Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 714
       
       
       
       
       
       
                                Barcode 866914                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/17/2009           .                                
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       The Committee on Regulated Industries (Jones) recommended the
       following:
       
    1         Senate Amendment to Amendment (292686) 
    2  
    3         Delete lines 118 - 131
    4  and insert:
    5         627.714 Residential Condominium unit owner coverage; loss
    6  assessment coverage required; excess coverage provision
    7  required.—
    8         For policies issued or renewed on or after July 1, 2009,
    9  coverage under a unit owner’s residential property policy shall
   10  include property loss assessment coverage of at least $2,000 for
   11  all assessments made as a result of the same direct loss to the
   12  property, regardless of the number of assessments, owned by all
   13  members of the association collectively when such loss is of the
   14  type of loss covered by the unit owner’s residential property
   15  insurance policy, to which a deductible shall apply of no more
   16  than $250 per direct property loss. If a deductible was or will
   17  be applied to other property loss sustained by the unit owner
   18  resulting from the same direct loss to the property, no
   19  deductible shall apply to the loss assessment coverage.Every
   20  individual unit owner’s residential property policy must contain
   21  a provision stating that the coverage afforded by such policy is
   22  excess coverage over the amount recoverable under any other
   23  policy covering the same property.
   24