Florida Senate - 2020                        COMMITTEE AMENDMENT
       Bill No. SB 1492
       
       
       
       
       
       
                                Ì268682GÎ268682                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  02/25/2020           .                                
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       The Committee on Rules (Flores) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 426 and 427
    4  insert:
    5         Section 18. Paragraph (a) of subsection (3) of section
    6  627.7011, Florida Statutes, is amended to read:
    7         627.7011 Homeowners’ policies; offer of replacement cost
    8  coverage and law and ordinance coverage.—
    9         (3) In the event of a loss for which a dwelling or personal
   10  property is insured on the basis of replacement costs:
   11         (a) For a dwelling, the insurer must initially pay at least
   12  the actual cash value of the insured loss, less any applicable
   13  deductible. The insurer shall pay any remaining amounts
   14  necessary to perform such repairs as work is performed and
   15  expenses are incurred. If a total loss of a dwelling occurs, the
   16  insurer shall pay the replacement cost coverage without
   17  reservation or holdback of any depreciation in value, pursuant
   18  to s. 627.702. A list of recommended or preferred vendors may be
   19  provided to the insured for repairs to the dwelling, if
   20  requested by the insured.
   21  
   22  ================= T I T L E  A M E N D M E N T ================
   23  And the title is amended as follows:
   24         Delete line 55
   25  and insert:
   26         beginning on a certain date; amending s. 627.7011,
   27         F.S.; providing that an insurer issuing a homeowner’s
   28         policy with certain coverage may provide the insured a
   29         list of recommended or preferred vendors for repairs
   30         to the dwelling, if requested by the insured; amending
   31         s. 627.70131,