Florida Senate - 2016 SENATOR AMENDMENT Bill No. CS for CS for SB 1248 Ì722508*Î722508 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Senator Diaz de la Portilla moved the following: 1 Senate Amendment (with title amendment) 2 3 Delete everything after the enacting clause 4 and insert: 5 Section 1. Paragraph (b) of subsection (3) of section 6 626.916, Florida Statutes, is amended to read: 7 626.916 Eligibility for export.— 8 (3) 9 (b) Paragraphs (1)(a)-(d) do not apply to commercial lines 10 residential coverage as described in s. 627.4025 or to classes 11 of insurance which are subject to s. 627.062(3)(d)1. These 12 classes may be exportable under the following conditions: 13 1. The insurance must be placed only by or through a 14 surplus lines agent licensed in this state; 15 2. The insurer must be made eligible under s. 626.918; and 16 3. The insured must sign a disclosure that substantially 17 provides the following: “You are agreeing to place coverage in 18 the surplus lines market. Superior coverage may be available in 19 the admitted market and at a lesser cost. Persons insured by 20 surplus lines carriers are not protected under the Florida 21 Insurance Guaranty Act with respect to any right of recovery for 22 the obligation of an insolvent unlicensed insurer.” If the 23 notice is signed by the insured, the insured is presumed to have 24 been informed and to know that other coverage may be available, 25 and, with respect to the diligent-effort requirement under 26 subsection (1), there is no liability on the part of, and no 27 cause of action arises against, the retail agent presenting the 28 form. 29 Section 2. This act shall take effect July 1, 2016. 30 31 ================= T I T L E A M E N D M E N T ================ 32 And the title is amended as follows: 33 Delete everything before the enacting clause 34 and insert: 35 A bill to be entitled 36 An act relating to insurance practices; amending s. 37 626.916, F.S.; revising conditions for export 38 eligibility of commercial lines residential coverage; 39 providing an effective date.