Florida Senate - 2021                        COMMITTEE AMENDMENT
       Bill No. CS for SB 76
       
       
       
       
       
       
                                Ì4891549Î489154                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: OO            .                                
                  03/09/2021           .                                
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       The Committee on Judiciary (Polsky) recommended the following:
       
    1         Senate Amendment to Amendment (372938) 
    2  
    3         Delete lines 74 - 89
    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.