Florida Senate - 2021                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 76
       
       
       
       
       
       
                                Ì651414|Î651414                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                 Comm: UNFAV           .                                
                  03/25/2021           .                                
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       The Committee on Rules (Gibson) recommended the following:
       
    1         Senate Amendment to Amendment (670126) 
    2  
    3         Delete lines 73 - 88
    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.