Florida Senate - 2015                          SENATOR AMENDMENT
       Bill No. CS for SB 1298
       
       
       
       
       
       
                                Ì805270~Î805270                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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               Floor: 1a/AD/2R         .                                
             04/22/2015 11:55 AM       .                                
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       Senator Simmons moved the following:
       
    1         Senate Amendment to Amendment (800248) 
    2  
    3         Delete lines 48 - 88
    4  and insert:
    5  chapter 509, an association as defined in s. 718.103 or s.
    6  719.103, a homeowners’ association as defined in s. 720.301, a
    7  developer or managing entity as defined in s. 721.05, or other
    8  entity that owns, manages, or otherwise controls the short-term
    9  rental property of the participating lessor.
   10         (e) “Short-term rental network company insurance” means an
   11  insurance policy that provides coverage as required by this
   12  section at all times during the short-term rental period.
   13         (f) “Short-term rental period” means the period beginning
   14  at the time the participating renter first uses or occupies the
   15  short-term rental property and ending at the time the
   16  participating renter vacates the short-term rental property.
   17         (g) “Short-term rental property” means the entirety or any
   18  portion of a property which is used for residential occupancy
   19  purposes. The term includes, but is not limited to, a
   20  condominium, an apartment, a multifamily dwelling, a single
   21  family structure, or any other rental unit located in this state
   22  which is owned or rented by a participating lessor. The term
   23  does not include timeshare property as defined in s. 721.05.
   24         (2) During the short-term rental period, a short-term
   25  rental network company shall maintain short-term rental network
   26  company insurance as excess coverage, except that such coverage
   27  shall be primary to the extent that the participating lessor’s
   28  insurance does not provide coverage. The short-term rental
   29  network company insurance must:
   30         (a) Insure the participating lessor against direct physical
   31  loss to the short-term rental property and its contents,
   32  exclusive of the property of the participating renter, with
   33  limits of at least $1 million per occurrence with a policy
   34  period aggregate limit of $2 million for each short-term rental
   35  property.
   36         (b) Provide liability coverage for personal injury and
   37  property damage with limits of at least $1 million which covers
   38  the acts and omissions of the short-term rental network company,
   39  a participating lessor, and all other persons using or occupying
   40  the short-term rental property, except for a participating
   41  renter, against claims arising out of the use or occupancy of
   42  the short-term rental property by a participating renter and
   43  which does not contain an exclusion for co-insureds.