Florida Senate - 2012                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1428
       
       
       
       
       
       
                                Barcode 356454                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                  Floor: WD            .                                
             03/09/2012 11:38 AM       .                                
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       Senator Smith moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 30 and 31
    4  insert:
    5         Section 2. Subsection (1) of section 627.0629, Florida
    6  Statutes, is amended to read:
    7         627.0629 Residential property insurance; rate filings.—
    8         (1) It is the intent of the Legislature that insurers
    9  provide savings to consumers who install or implement windstorm
   10  damage mitigation techniques, alterations, or solutions to their
   11  properties to prevent windstorm losses.
   12         (a) A rate filing for residential property insurance must
   13  include actuarially reasonable discounts, credits, or other rate
   14  differentials, or appropriate reductions in deductibles, for
   15  properties on which fixtures or construction techniques
   16  demonstrated to reduce the amount of loss in a windstorm have
   17  been installed or implemented. The fixtures or construction
   18  techniques must include, but are not limited to, fixtures or
   19  construction techniques that enhance roof strength, roof
   20  covering performance, roof-to-wall strength, wall-to-floor-to
   21  foundation strength, opening protection, and window, door, and
   22  skylight strength. Credits, discounts, or other rate
   23  differentials, or appropriate reductions in deductibles, for
   24  fixtures and construction techniques that meet the minimum
   25  requirements of the Florida Building Code must be included in
   26  the rate filing. The office shall determine the discounts,
   27  credits, other rate differentials, and appropriate reductions in
   28  deductibles that reflect the full actuarial value of such
   29  revaluation, which may be used by insurers in rate filings.
   30         (b) If a policyholder receives a premium discount from
   31  Citizens Property Insurance Corporation as a result of windstorm
   32  damage mitigation techniques, alterations, or solutions
   33  applicable to the insured property, the corporation may not
   34  reduce the discount available to the policyholder in any
   35  subsequent year by more than the greater of 25 percent of the
   36  previous year’s discount or $200, regardless of the results of
   37  reinspection programs undertaken by the corporation, unless the
   38  corporation demonstrates intentional misrepresentation by the
   39  policyholder.
   40  
   41  ================= T I T L E  A M E N D M E N T ================
   42         And the title is amended as follows:
   43         Delete line 5
   44  and insert:
   45         its employees; amending s. 627.0629, F.S., relating to
   46         consumers who install or implement windstorm damage
   47         mitigation techniques, alterations, or solutions to
   48         their properties to prevent windstorm losses;
   49         prohibiting Citizens Property Insurance Corporation
   50         from reducing the discount available to the
   51         policyholder in any subsequent year by more than a
   52         specified amount; amending s. 627.4133, F.S.;
   53         providing