Florida Senate - 2020                        COMMITTEE AMENDMENT
       Bill No. SB 1492
       
       
       
       
       
       
                                Ì292600nÎ292600                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/27/2020           .                                
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       The Committee on Rules (Flores) recommended the following:
       
    1         Senate Amendment to Amendment (957714) (with title
    2  amendment)
    3  
    4         Between lines 325 and 326
    5  insert:
    6         Section 18. Paragraph (a) of subsection (3) of section
    7  627.7011, Florida Statutes, is amended to read:
    8         627.7011 Homeowners’ policies; offer of replacement cost
    9  coverage and law and ordinance coverage.—
   10         (3) In the event of a loss for which a dwelling or personal
   11  property is insured on the basis of replacement costs:
   12         (a) For a dwelling, the insurer must initially pay at least
   13  the actual cash value of the insured loss, less any applicable
   14  deductible. The insurer shall pay any remaining amounts
   15  necessary to perform such repairs as work is performed and
   16  expenses are incurred. If a total loss of a dwelling occurs, the
   17  insurer shall pay the replacement cost coverage without
   18  reservation or holdback of any depreciation in value, pursuant
   19  to s. 627.702. A list of recommended or preferred vendors may be
   20  provided to the insured for repairs to the dwelling only if
   21  requested by the insured.
   22  
   23  ================= T I T L E  A M E N D M E N T ================
   24  And the title is amended as follows:
   25         Delete line 979
   26  and insert:
   27         beginning on a certain date; amending s. 627.7011,
   28         F.S.; providing that an insurer issuing a homeowner’s
   29         policy with certain coverage may provide the insured a
   30         list of recommended or preferred vendors for repairs
   31         to the dwelling only if requested by the insured;
   32         amending s. 627.70131,