Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS for SB 1492
       
       
       
       
       
       
                                Ì508642*Î508642                         
       
                              LEGISLATIVE ACTION                        
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       Senator Brandes moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 730 and 731
    4  insert:
    5         Section 22. Notwithstanding the expiration of subsection
    6  (4) of section 627.715, Florida Statutes, which occurred on July
    7  1, 2019, that subsection is revived, reenacted, and amended to
    8  read:
    9         627.715 Flood insurance.—An authorized insurer may issue an
   10  insurance policy, contract, or endorsement providing personal
   11  lines residential coverage for the peril of flood or excess
   12  coverage for the peril of flood on any structure or the contents
   13  of personal property contained therein, subject to this section.
   14  This section does not apply to commercial lines residential or
   15  commercial lines nonresidential coverage for the peril of flood.
   16  An insurer may issue flood insurance policies, contracts,
   17  endorsements, or excess coverage on a standard, preferred,
   18  customized, flexible, or supplemental basis.
   19         (4) A surplus lines agent may export a contract or
   20  endorsement providing flood coverage to an eligible surplus
   21  lines insurer without making a diligent effort to seek such
   22  coverage from three or more authorized insurers under s.
   23  626.916(1)(a). This subsection expires July 1, 2030 2019, or on
   24  the date on which the Commissioner of Insurance Regulation
   25  determines in writing that there is an adequate admitted market
   26  to provide coverage for the peril of flood consistent with this
   27  section, whichever date occurs first. If there are fewer than
   28  three admitted insurers on the date this subsection expires, the
   29  number of declinations necessary to meet the diligent-effort
   30  requirement shall be no fewer than the number of authorized
   31  insurers providing flood coverage.
   32  
   33  ================= T I T L E  A M E N D M E N T ================
   34  And the title is amended as follows:
   35         Delete line 88
   36  and insert:
   37         act; reviving, reenacting, and amending s. 627.715(4),
   38         F.S.; providing an exemption from a diligent effort
   39         requirement for surplus lines agents exporting
   40         contracts or endorsements providing flood coverage;
   41         providing for expiration; amending s. 631.57, F.S.;
   42         deleting a deductible