Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS for SB 1492
       
       
       
       
       
       
                                Ì443260wÎ443260                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       Senator Broxson moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 473 - 488
    4  and insert:
    5         Section 18. Paragraph (a) of subsection (3) of section
    6  627.7011, Florida Statutes, is amended, and paragraph (f) is
    7  added to subsection (5) of that section, 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. Except as provided in paragraph (5)(f), a list of
   20  recommended or preferred vendors may be provided to the insured
   21  for repairs to the dwelling only if requested by the insured.
   22         (5) This section does not:
   23         (f)1. Modify or eliminate any term, condition, limitation,
   24  or exclusion relating to any managed repair arrangement or
   25  election to repair arrangement in a homeowner’s insurance
   26  policy.
   27         2. Prohibit an insurer from including a list of recommended
   28  or preferred vendors with the homeowner’s insurance policy
   29  documents.
   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 line 65
   34  and insert:
   35         by the insured; providing an exception; providing
   36         construction; amending s. 627.70131, F.S.; providing