| 1 | A bill to be entitled |
| 2 | An act relating to commercial lines insurance |
| 3 | policies; amending s. 627.4133, F.S.; authorizing an |
| 4 | insurer to transfer a commercial lines policy under |
| 5 | certain circumstances; providing construction; |
| 6 | providing an effective date. |
| 7 |
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| 8 | Be It Enacted by the Legislature of the State of Florida: |
| 9 |
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| 10 | Section 1. Subsection (8) is added to section 627.4133, |
| 11 | Florida Statutes, to read: |
| 12 | 627.4133 Notice of cancellation, nonrenewal, or renewal |
| 13 | premium.- |
| 14 | (8) An insurer issuing a commercial lines policy, may, at |
| 15 | the expiration of the policy term, transfer the policy to |
| 16 | another authorized insurer under the same direct or indirect |
| 17 | ownership, management, or control as the transferring insurer. |
| 18 | The transfer constitutes a renewal of the policy and may not be |
| 19 | treated as a cancellation or a nonrenewal of the policy. |
| 20 | Section 2. This act shall take effect July 1, 2012. |