Florida Senate - 2014 SB 870 By Senator Smith 31-01023-14 2014870__ 1 A bill to be entitled 2 An act relating to insurance; amending s. 624.425, 3 F.S.; providing that the absence of a countersignature 4 does not affect the validity of a policy or contract; 5 providing an effective date. 6 7 Be It Enacted by the Legislature of the State of Florida: 8 9 Section 1. Subsection (1) of section 624.425, Florida 10 Statutes, is amended to read: 11 624.425 Agent countersignature required, property, 12 casualty, surety insurance.— 13 (1) Except as stated in s. 624.426, no authorized property, 14 casualty, or surety insurer shall assume direct liability as to 15 a subject of insurance resident, located, or to be performed in 16 this state unless the policy or contract of insurance is issued 17 by or through, and is countersigned by, an agent who is 18 regularly commissioned and licensed currently as an agent and 19 appointed as an agent for the insurer under this code. However, 20 the absence of a countersignature does not affect the validity 21 of the policy or contract. If two or more authorized insurers 22 issue a single policy of insurance against legal liability for 23 loss or damage to person or property caused by a
thenuclear 24 energy hazard, or a single policy insuring against loss or 25 damage to property by radioactive contamination, whether or not 26 also insuring against one or more other perils that may be 27 insured proper to insureagainst in this state, such policy if 28 otherwise lawful may be countersigned on behalf of all of the 29 insurers by a licensed and appointed agent of the anyinsurer 30 appearing thereon. The producing agent shall receive on each 31 policy or contract the full and usual commission allowed and 32 paid by the insurer to its agents on business written or 33 transacted by them for the insurer. 34 Section 2. This act shall take effect July 1, 2014.