Florida Senate - 2021 COMMITTEE AMENDMENT Bill No. CS for SB 76 Ì444846EÎ444846 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Judiciary (Polsky) recommended the following: 1 Senate Amendment to Amendment (280944) 2 3 Delete lines 75 - 90 4 and insert: 5 4. Include an acknowledgment form to be signed by the 6 insured as acknowledgment that the roof surface reimbursement 7 schedule is a limitation of payment owed by the insurer. This 8 signed form must be returned to the insurer and agent, if 9 applicable, before a carrier may issue a policy with a roof 10 surface reimbursement schedule. The acknowledgment form must be 11 in bold type no smaller than 18 point and include the following 12 statements: 13 14 “PLEASE DISCUSS WITH YOUR INSURANCE AGENT. YOU ARE ELECTING TO 15 PURCHASE COVERAGE ON YOUR ROOF ACCORDING TO A ROOF SURFACE 16 REIMBURSEMENT SCHEDULE. IF YOUR ROOF IS DAMAGED BY A COVERED 17 PERIL, YOU WILL RECEIVE A PAYMENT AMOUNT FOR YOUR ROOF ACCORDING 18 TO THE SCHEDULE BELOW. BE ADVISED THAT THIS MAY RESULT IN YOU 19 HAVING TO PAY, USING YOUR OWN SEPARATE FUNDS, SIGNIFICANT COSTS 20 TO REPAIR OR REPLACE YOUR ROOF WHICH YOUR INSURANCE CARRIER IS 21 NOT LIABLE FOR. THESE AMOUNTS ARE IN ADDITION TO YOUR 22 DEDUCTIBLE.” 23 24 “WARNING! IF YOUR ROOF IS CURRENTLY 10 YEARS OLD OR OLDER, OR 25 UPON YOUR ROOF BECOMING 10 YEARS OLD OR OLDER, AND BECAUSE YOUR 26 ROOF IS OF A CERTAIN TYPE OF MATERIAL, IN THE EVENT OF A COVERED 27 LOSS, THIS POLICY WILL ONLY COVER 30 PERCENT TO 75 PERCENT OF 28 THE REPLACEMENT FOR YOUR ROOF SURFACE MATERIALS.” 29 30 5. Allow for actuarially sound methods to apply in 31 accordance with s. 627.062. 32 6. Be approved by the office. 33 7. Be provided to the insured with the policy documents at 34 issuance and at least 60 days before each renewal.