Florida Senate - 2016                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1248
       
       
       
       
       
       
                                Ì685532)Î685532                         
       
                              LEGISLATIVE ACTION                        
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       Senator Richter moved the following:
       
    1         Senate Amendment to Amendment (722508) (with title
    2  amendment)
    3  
    4         Delete lines 13 - 28
    5  and insert:
    6         1. The insurance must be placed only by or through a
    7  surplus lines agent licensed in this state.;
    8         2. The insurer must be made eligible under s. 626.918.; and
    9         3. The insured must sign a disclosure that substantially
   10  provides the following: “You are agreeing to place coverage in
   11  the surplus lines market. Superior coverage may be available in
   12  the admitted market and at a lesser cost. Persons insured by
   13  surplus lines carriers are not protected under the Florida
   14  Insurance Guaranty Act with respect to any right of recovery for
   15  the obligation of an insolvent unlicensed insurer.” If the
   16  notice is signed by the insured, the insured is presumed to have
   17  been informed and to know that other coverage may be available,
   18  and, with respect to the diligent-effort requirement under
   19  subsection (1), there is no liability on the part of, and no
   20  cause of action arises against, the retail agent presenting the
   21  form.
   22         4. Any agent who has been the subject of a disciplinary
   23  sanction or fine by the department for a violation of this
   24  section within the last 10 years may not export a policy without
   25  first complying with paragraph (1)(a)-(d).
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Between lines 38 and 39
   30  insert:
   31         prohibiting an agent who was the subject of a
   32         disciplinary action by the Department of Financial
   33         Services from exporting a certain policy except after
   34         complying with certain provisions;