Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 1816
       
       
       
       
       
       
                                Barcode 443498                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  03/22/2011           .                                
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       The Committee on Banking and Insurance (Bennett) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 165 and 166
    4  insert:
    5         Section 6. Subsection (3) of section 626.916, Florida
    6  Statutes, is amended to read:
    7         626.916 Eligibility for export.—
    8         (3)(a) Subsection (1) does not apply to wet marine and
    9  transportation or aviation risks, which are subject to s.
   10  626.917.
   11         (b) Paragraphs (1)(a)–(d) do not apply to classes of
   12  insurance which are subject to s. 627.062(3)(d)1. These classes
   13  may be exportable under the following conditions:
   14         1. The insurance must be placed only by or through a
   15  surplus lines agent licensed in this state;
   16         2. The insurer must be made eligible under s. 626.918; and
   17         3. The insured must sign a disclosure that substantially
   18  provides the following: “You are agreeing to place coverage in
   19  the surplus lines market. Superior coverage may be available in
   20  the admitted market and at a lesser cost. Persons insured by
   21  surplus lines carriers are not protected under the Florida
   22  Insurance Guaranty Act with respect to any right of recovery for
   23  the obligation of an insolvent unlicensed insurer.” If the
   24  notice is signed by the insured, the insured is presumed to have
   25  been informed and to know that other coverage may be available,
   26  and, with respect to the diligent-effort requirement under
   27  subsection (1), there is no liability on the part of, and no
   28  cause of action arises against, the retail agent presenting the
   29  form.
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32         And the title is amended as follows:
   33         Delete line 32
   34  and insert:
   35         Office on or before a specified time; amending s.
   36         626.916, F.S.; providing an exemption from certain
   37         restrictions on insurance coverage that is eligible
   38         for export; providing the conditions for such
   39         exemption, including the provision of notice to the
   40         insured; providing the requirements of such notice;
   41         providing an