Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 1894
       
       
       
       
       
       
                                Barcode 923128                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RS            .                                
                  03/17/2009           .                                
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       The Committee on Banking and Insurance (Ring) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 13 - 24
    4  and insert:
    5         (4) Except for ss. 627.4035, 627.4137, 627.420, 627.426,
    6  627.428, 627.701(1), 627.701(4), 627.70131(5), 627.702, and
    7  627.7283, and except as may be specifically stated to apply to
    8  surplus lines insurers, the provisions of chapter 627 do not
    9  apply to surplus lines insurance authorized under ss. 626.913
   10  626.937, the Surplus Lines Law.
   11         Section 2. Section 626.924, Florida Statutes, is amended to
   12  read:
   13         626.924 Information required on contract.—Each surplus
   14  lines agent through whom a surplus lines coverage is procured
   15  shall write or print on the outside of the policy and on any
   16  certificate, cover note, or other confirmation of the insurance
   17  his or her name, address, and identification number and the name
   18  and address of the producing agent through whom the business
   19  originated and shall have stamped or printed on the face of the
   20  policy in contrasting color and not less than 14-point type, the
   21  following statements written upon the first page of the policy
   22  or the certificate, cover note, or confirmation of insurance the
   23  words: THIS INSURANCE IS ISSUED PURSUANT TO THE FLORIDA SURPLUS
   24  LINES LAW. PERSONS INSURED BY SURPLUS LINES CARRIERS DO NOT HAVE
   25  THE PROTECTION OF CERTAIN FLORIDA LAWS THAT ARE DESIGNED TO
   26  PROTECT CONSUMERS. SURPLUS LINES CARRIERS’ POLICY RATES AND
   27  FORMS ARE NOT APPROVED BY ANY FLORIDA REGULATORY AGENCY. PERSONS
   28  INSURED BY SURPLUS LINES CARRIERS DO NOT HAVE THE PROTECTION OF
   29  THE FLORIDA INSURANCE GUARANTY ACT TO THE EXTENT OF ANY RIGHT OF
   30  RECOVERY FOR THE OBLIGATION OF AN INSOLVENT UNLICENSED INSURER.
   31         Section 3. This act shall take effect upon becoming a law.
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34         And the title is amended as follows:
   35         Delete lines 4 - 6
   36  and insert:
   37  provisions of law to surplus lines insurers; amending s.
   38  626.924, F.S.; requiring that certain insurance policies have
   39  certain statements printed on the face of the policy in
   40  specified type; providing an effective date.