Florida Senate - 2022 SENATOR AMENDMENT Bill No. SB 2-A Ì551146#Î551146 LEGISLATIVE ACTION Senate . House . . . Floor: 9/F/2R . 12/13/2022 02:58 PM . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Senator Powell moved the following: 1 Senate Amendment (with title amendment) 2 3 Delete lines 2418 - 2421 4 and insert: 5 Section 14. Paragraph (c) is added to subsection (1) of 6 section 627.7011, Florida Statutes, and paragraph (b) of 7 subsection (4) of that section is amended, to read: 8 627.7011 Homeowners’ policies; offer of replacement cost 9 coverage and law and ordinance coverage.— 10 (1) Prior to issuing a homeowner’s insurance policy, the 11 insurer must offer each of the following: 12 (c) If a homeowner’s insurance policy provides an option 13 with limited coverage, a premium for such reduced coverage which 14 includes a substantial, actuarially sound premium discount or 15 credit for the impact of the reduced coverage. 16 17 An insurer is not required to make the offers required by this 18 subsection with respect to the issuance or renewal of a 19 homeowner’s policy that contains the provisions specified in 20 paragraph (b) for law and ordinance coverage limited to 25 21 percent of the dwelling limit, except that the insurer must 22 offer the law and ordinance coverage limited to 50 percent of 23 the dwelling limit. This subsection does not prohibit the offer 24 of a guaranteed replacement cost policy. 25 26 ================= T I T L E A M E N D M E N T ================ 27 And the title is amended as follows: 28 Delete line 102 29 and insert: 30 policies; amending s. 627.7011, F.S.; requiring that 31 insurers issuing homeowners’ policies with limited 32 coverage options to offer a premium including a 33 substantial, actuarially sound premium discount or 34 credit for the impact of the reduced coverage; 35 revising