Florida Senate - 2021 COMMITTEE AMENDMENT Bill No. CS for CS for SB 76 Ì503350oÎ503350 LEGISLATIVE ACTION Senate . House Comm: OO . 03/19/2021 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Rules (Gibson) recommended the following: 1 Senate Amendment 2 3 Delete lines 222 - 237 4 and insert: 5 4. Include an acknowledgment form to be signed by the 6 insured as acknowledgment that the roof covering 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 an insurer may issue a policy with a roof 10 covering reimbursement schedule. The acknowledgment form must be 11 in bold type no smaller than 18 point and include the following 12 statements, which must also be included as a disclosure notice 13 on the cover or first page of the insurance policy declarations 14 page: 15 16 “PLEASE DISCUSS WITH YOUR INSURANCE AGENT. YOU ARE ELECTING TO 17 PURCHASE COVERAGE ON YOUR ROOF ACCORDING TO A ROOF COVERING 18 REIMBURSEMENT SCHEDULE. IF YOUR ROOF IS DAMAGED BY A COVERED 19 PERIL, YOU WILL RECEIVE A PAYMENT AMOUNT FOR YOUR ROOF ACCORDING 20 TO THE SCHEDULE BELOW. BE ADVISED THAT THIS MAY RESULT IN YOU 21 HAVING TO PAY, USING YOUR OWN SEPARATE FUNDS, SIGNIFICANT COSTS 22 TO REPAIR OR REPLACE YOUR ROOF WHICH YOUR INSURANCE CARRIER IS 23 NOT LIABLE FOR. THESE AMOUNTS ARE IN ADDITION TO YOUR 24 DEDUCTIBLE.” 25 26 “WARNING! IF YOUR ROOF IS CURRENTLY 10 YEARS OLD OR OLDER, OR 27 UPON YOUR ROOF BECOMING 10 YEARS OLD OR OLDER, AND BECAUSE YOUR 28 ROOF IS OF A CERTAIN TYPE OF MATERIAL, IN THE EVENT OF A COVERED 29 LOSS, THIS POLICY WILL ONLY COVER 30 PERCENT TO 75 PERCENT OF 30 THE REPLACEMENT FOR YOUR ROOF COVERING MATERIALS.” 31 32 5. Allow for actuarially sound methods to apply in 33 accordance with s. 627.062. 34 6. Be approved by the office. 35 7. Be provided to the insured with the policy documents at 36 issuance and at least 60 days before each renewal.