Florida Senate - 2026 COMMITTEE AMENDMENT
Bill No. SB 1028
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LEGISLATIVE ACTION
Senate . House
Comm: RCS .
01/15/2026 .
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The Committee on Banking and Insurance (Gruters) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Delete everything after the enacting clause
4 and insert:
5 Section 1. Paragraph (oo) is added to subsection (6) of
6 section 627.351, Florida Statutes, to read:
7 627.351 Insurance risk apportionment plans.—
8 (6) CITIZENS PROPERTY INSURANCE CORPORATION.—
9 (oo) For commercial residential and commercial
10 nonresidential risks, if an approved surplus lines clearinghouse
11 insurer offers coverage under s. 627.3518(5)(c)2. and the total
12 cost of such coverage is not more than 20 percent greater than
13 the total cost of insurance coverage from the corporation, the
14 corporation may not issue or renew coverage unless it imposes a
15 premium equalization adjustment on such policy equal to the
16 amount by which the total cost of insurance coverage offered by
17 the approved surplus lines clearinghouse insurer exceeds the
18 total cost of insurance coverage from the corporation. If the
19 total cost of insurance from the approved surplus lines
20 clearinghouse insurer does not exceed the total cost of
21 corporation coverage, the corporation may not impose the premium
22 equalization adjustment. If more than one approved surplus lines
23 clearinghouse insurer offers coverage under s. 627.3518(5)(c)2.,
24 the lowest offered total cost of insurance coverage applies for
25 purposes of this paragraph. The total cost of insurance coverage
26 includes, but is not limited to, the premium, fees, surcharges,
27 and applicable taxes. A premium equalization adjustment applied
28 pursuant to this paragraph expires at the end of the policy
29 term.
30 Section 2. Section 627.3518, Florida Statutes, is amended
31 to read:
32 627.3518 Citizens Property Insurance Corporation
33 policyholder eligibility clearinghouse program.—The purpose of
34 this section is to provide a framework for the corporation to
35 implement a clearinghouse program by January 1, 2014.
36 (1) As used in this section, the term:
37 (a) “Approved surplus lines clearinghouse insurer” means an
38 eligible surplus lines insurer that has a financial strength
39 rating of “A-” or higher and a financial size category of A-VII
40 or higher from A.M. Best Company which the clearinghouse
41 administrator recommends for participation in the program and
42 which the office verifies meets the requirements for
43 participation in the program within 5 business days after the
44 commercial lines clearinghouse administrator’s recommendation.
45 (b) “Commercial lines clearinghouse administrator” means
46 the individual or entity employed or otherwise contracted by the
47 corporation to provide administrative or professional services
48 to implement the commercial lines clearinghouse required
49 pursuant to subparagraph (2)(b)1. within the corporation as set
50 forth in paragraph (3)(b).
51 (c) “Corporation” means Citizens Property Insurance
52 Corporation.
53 (d)(b) “Exclusive agent” means any licensed insurance agent
54 that has, by contract, agreed to act exclusively for one company
55 or group of affiliated insurance companies and is disallowed by
56 the provisions of that contract to directly write for any other
57 unaffiliated insurer absent express consent from the company or
58 group of affiliated insurance companies.
59 (e)(c) “Independent agent” means any licensed insurance
60 agent not described in paragraph (d) (b).
61 (f) “Primary residence” has the same meaning as in s.
62 627.351(6)(c)2.a.
63 (g)(d) “Program” means the clearinghouse created under this
64 section, consisting of the personal lines clearinghouse and the
65 commercial lines clearinghouse.
66 (h) “Surplus lines agent” means an insurance agent licensed
67 pursuant to s. 626.927 or s. 626.9272.
68 (2)(a) The corporation shall establish a personal lines
69 clearinghouse in order to confirm an applicant’s eligibility
70 with the corporation, and to enhance access of new applicants
71 for personal lines coverage and existing personal lines
72 policyholders of the corporation to offers of coverage from
73 authorized insurers, and the corporation shall establish a
74 program for personal residential risks in order to facilitate
75 the diversion of ineligible applicants and existing
76 policyholders from the corporation into the voluntary insurance
77 market.
78 (b)1. The corporation shall implement on or before January
79 1, 2027, a commercial lines clearinghouse in order to enhance
80 access to offers of coverage from approved surplus lines
81 clearinghouse insurers for new applicants for commercial
82 residential coverage and commercial nonresidential coverage and
83 existing commercial residential and commercial nonresidential
84 policyholders of the corporation.
85 2. To facilitate the diversion of ineligible applicants and
86 existing policyholders from the corporation to authorized
87 insurers, the corporation may shall also develop and implement a
88 separate commercial lines clearinghouse to confirm eligibility
89 with the corporation and to enhance access to offers of such
90 coverage from authorized insurers for new applicants for
91 commercial residential or commercial nonresidential coverage and
92 existing commercial residential and commercial nonresidential
93 policyholders of the corporation appropriate procedures for
94 facilitating the diversion of ineligible applicants and existing
95 policyholders for commercial residential coverage into the
96 private insurance market and shall report such procedures to the
97 President of the Senate and the Speaker of the House of
98 Representatives by January 1, 2014.
99 (3) The corporation board shall establish the clearinghouse
100 program as an organizational unit within the corporation. The
101 program shall have all the rights and responsibilities in
102 carrying out its duties as a licensed general lines agent and a
103 surplus lines agent, but may not be required to employ or engage
104 a licensed general lines agent or a surplus lines agent, or to
105 maintain an insurance agency license to carry out its activities
106 in the solicitation and placement of insurance coverage. In
107 establishing the program, the corporation has all of the
108 following rights and responsibilities may:
109 (a) May require all new applications for personal lines
110 coverage, and all personal lines policies due for renewal, to be
111 submitted for coverage to the program in order to facilitate
112 obtaining an offer of coverage from an authorized insurer or, if
113 the risk is a commercial risk, shall require all new
114 applications for commercial lines coverage, and all commercial
115 lines policies due for renewal, to be initially submitted for
116 coverage through the commercial clearinghouse as a single point
117 of intake for both the corporation and the program in order to
118 facilitate obtaining an offer of coverage from an approved
119 surplus lines clearinghouse insurer, before binding or renewing
120 coverage by the corporation.
121 (b) Shall establish and maintain the operational systems
122 and procedures necessary to implement the program.
123 (c) May employ or otherwise contract with individuals or
124 other entities for appropriate administrative or professional
125 services to effectuate the plan within the corporation in
126 accordance with the applicable purchasing requirements under s.
127 627.351 and, for purposes of implementing the commercial lines
128 clearinghouse and providing offers of coverage from approved
129 surplus lines clearinghouse insurers on or before January 1,
130 2027, contract with such individuals or entities in accordance
131 with s. 287.057(3)(c).
132 (d)(c) May enter into contracts with any authorized insurer
133 and any approved surplus lines clearinghouse insurer to
134 participate in the program and accept an appointment by such
135 insurer.
136 (e)(d) May provide funds to operate the program. Insurers
137 and agents participating in the program are not required to pay
138 a fee to offset or partially offset the cost of the program or
139 use the program for renewal of policies initially written
140 through the clearinghouse. Notwithstanding this paragraph, any
141 commercial lines clearinghouse administrator may charge approved
142 surplus lines clearinghouse insurers and surplus lines agents
143 participating in the program reasonable transaction, technology,
144 administration, and other similar fees.
145 (f)(e) May develop an enhanced application that includes
146 information to assist private insurers in determining whether to
147 make an offer of coverage through the program.
148 (g)(f) For personal lines residential risks, may require
149 that, before approving all new applications for coverage by the
150 corporation, that every application be subject to a period of 2
151 business days when any insurer participating in the program may
152 select the application for coverage. For commercial lines
153 residential and commercial lines nonresidential risks, the
154 corporation may require, before approving all new applications
155 for commercial lines coverage by the corporation, that every
156 application be subject to a period of 5 business days when any
157 insurer participating in the program may select the application
158 for coverage. The insurer may issue a binder on any policy
159 selected for coverage for a period of at least 30 days but not
160 more than 60 days.
161 (h) Shall, in creating the commercial lines clearinghouse,
162 establish criteria to determine the capabilities necessary for
163 the commercial lines clearinghouse administrator. For
164 facilitating offers of surplus lines coverage, such criteria
165 must include confirmed expertise in the surplus lines market, at
166 least 5 years of publicly available audited financial
167 statements, the ability to facilitate all approved surplus lines
168 clearinghouse insurers to participate in the commercial lines
169 clearinghouse on terms established by the corporation, and other
170 criteria that the corporation determines necessary to
171 effectively establish, administer, and manage offers of surplus
172 lines coverage through the commercial lines clearinghouse.
173 (i) Shall select a commercial lines clearinghouse
174 administrator within 90 days after the effective date of this
175 act.
176 (j) May allow the commercial lines clearinghouse
177 administrator to establish procedures and account clearance
178 requirements the commercial lines clearinghouse administrator
179 deems necessary to ensure an orderly process for offers of
180 coverage to be provided by approved surplus lines clearinghouse
181 insurers participating in the commercial lines clearinghouse and
182 to avoid multiple offers of coverage from the same insurer for
183 the same risk.
184 (k) Must submit to the commercial lines clearinghouse
185 administrator its coverage terms and conditions, deductible
186 structures, and its unalterable indicated total cost of
187 insurance coverage, which must include, but is not limited to,
188 the premium, fees, surcharges, and applicable taxes for the
189 subject risk before any approved surplus lines clearinghouse
190 insurer is provided a submission for coverage pursuant to the
191 program by any applicant for new coverage from the corporation
192 or any policyholder of the corporation. The commercial lines
193 clearinghouse administrator shall provide the corporation’s
194 unalterable indicated coverage terms and conditions and
195 deductible structures, but may not provide the indicated total
196 cost of corporation insurance coverage, to the approved surplus
197 lines clearinghouse insurers participating in the program. The
198 commercial lines clearinghouse administrator shall then use the
199 corporation’s unalterable indication to determine whether any
200 offers of coverage from approved surplus lines clearinghouse
201 insurers satisfy the requirements set forth in s. 627.351(6)(oo)
202 and subparagraph (5)(c)2. The corporation may not bind or
203 otherwise communicate, indicate, or make an offer of coverage to
204 an applicant or policyholder, or its agent, or otherwise accept
205 coverage until 5 business days have elapsed from the date that
206 it provided its unalterable indication to the commercial lines
207 clearinghouse administrator unless the time limit is waived in
208 writing. Any change to the corporation’s coverage terms and
209 conditions, deductible structures, or indicated total cost of
210 insurance coverage constitutes a new submission by the
211 corporation under this paragraph. The validation period
212 described in this paragraph applies regardless of any proposed
213 effective date, renewal date, or expiration date of the policy
214 and may not be shortened or bypassed based on timing
215 considerations relating to binding or renewal.
216 (4) Any authorized insurer may participate in the program;
217 however, participation is not mandatory for any insurer.
218 Approved surplus lines clearinghouse insurers may participate in
219 the commercial lines clearinghouse but may not participate in
220 the personal lines clearinghouse; however, participation in the
221 program is not mandatory for any surplus lines insurer. Insurers
222 making offers of coverage to new applicants or renewal
223 policyholders through the program:
224 (a) May not be required to individually appoint any agent
225 whose customer is underwritten and bound through the program.
226 Notwithstanding s. 626.112, insurers are not required to appoint
227 any agent on a policy underwritten through the program for as
228 long as that policy remains with the insurer. Insurers may, at
229 their election, appoint any agent or surplus lines agent whose
230 direct or indirect customer is initially underwritten and bound
231 through the program. In the event an insurer accepts a policy
232 from an agent who is not appointed pursuant to this paragraph,
233 and thereafter elects to accept a policy from such agent, the
234 provisions of s. 626.112 requiring appointment apply to the
235 agent.
236 (b) Must enter into a limited agency agreement with each
237 agent or surplus lines agent that is not appointed in accordance
238 with paragraph (a) and whose direct or indirect customer is
239 underwritten and bound through the program. In addition, a
240 surplus lines agent that enters into a limited agency or broker
241 agreement with an approved surplus lines clearinghouse insurer
242 making an offer of coverage through the program must also enter
243 into a limited agency or broker agreement with each producing
244 agent whose customer is underwritten and bound through the
245 program.
246 (c) Must enter into its standard agency agreement with each
247 agent or surplus lines agent whose direct or indirect customer
248 is underwritten and bound through the program when that agent or
249 surplus lines agent has been appointed by the insurer pursuant
250 to s. 626.112. In addition, a surplus lines agent that enters
251 into a limited agency or broker agreement with an approved
252 surplus lines clearinghouse insurer making an offer of coverage
253 through the program must also enter into a limited agency or
254 broker agreement with each producing agent whose customer is
255 underwritten and bound through the program.
256 (d) Must comply with s. 627.4133(2) or, if the insurer is
257 an approved surplus lines clearinghouse insurer, s. 626.9201.
258 (e) May participate through their single-designated
259 managing general agent or broker or surplus lines agent;
260 however, the provisions of paragraph (6)(a) regarding ownership,
261 control, and use of the expirations continue to apply.
262 (f) For authorized insurers, must pay to the producing
263 agent a commission equal to that paid by the corporation or the
264 usual and customary commission paid by the insurer for that line
265 of business, whichever is greater.
266 (g) For approved surplus lines clearinghouse insurers, when
267 coverage is placed through the clearinghouse with an approved
268 surplus lines clearinghouse insurer, must pay a total commission
269 or equivalent compensation on gross written premium, exclusive
270 of fees, surcharges, and taxes, to the surplus lines agent,
271 managing general agent, or managing general underwriter placing
272 the risk. The surplus lines agent, managing general agent, or
273 managing general underwriter must pay the producing agent a
274 commission that results in an effective commission percentage at
275 least equal to the commission percentage published by the
276 corporation and in effect on January 1, 2026, calculated in the
277 same manner and on the same basis used by the corporation, and
278 shall retain the remainder of the total commission or equivalent
279 compensation. This paragraph does not prohibit an agent from
280 voluntarily accepting a lower commission at the agent’s sole
281 discretion. As used in this paragraph, the term “effective
282 commission percentage” means the commission expressed as a
283 percentage of premium, exclusive of all fees, assessments,
284 surcharges, and taxes.
285 (5)(a) Notwithstanding s. 627.3517, any applicant for new
286 personal lines coverage from the corporation is not eligible for
287 coverage from the corporation if provided an offer of comparable
288 coverage from an authorized insurer through the program at a
289 premium that is at or below the eligibility threshold for
290 applicants for new coverage of a primary residence established
291 in s. 627.351(6)(c)5.a., or for applicants for new coverage of a
292 risk that is not a primary residence established in s.
293 627.351(6)(c)5.b. Whenever an offer of comparable coverage for a
294 personal lines risk is received for a policyholder of the
295 corporation at renewal from an authorized insurer through the
296 program which is at or below the eligibility threshold for
297 primary residences of policyholders of the corporation
298 established in s. 627.351(6)(c)5.a., or the eligibility
299 threshold for risks that are not primary residences of
300 policyholders of the corporation established in s.
301 627.351(6)(c)5.b., the risk is not eligible for coverage with
302 the corporation. In the event an offer of coverage for a new
303 applicant is received from an authorized insurer through the
304 program, and the premium offered exceeds the eligibility
305 threshold for applicants for new coverage of a primary residence
306 established in s. 627.351(6)(c)5.a., or the eligibility
307 threshold for applicants for new coverage on a risk that is not
308 a primary residence established in s. 627.351(6)(c)5.b., the
309 applicant or insured may elect to accept such coverage, or may
310 elect to accept or continue coverage with the corporation. In
311 the event an offer of coverage for a personal lines risk is
312 received from an authorized insurer at renewal through the
313 program, and the premium offered exceeds the eligibility
314 threshold for primary residences of policyholders of the
315 corporation established in s. 627.351(6)(c)5.a., or exceeds the
316 eligibility threshold for risks that are not primary residences
317 of policyholders of the corporation established in s.
318 627.351(6)(c)5.b., the insured may elect to accept such
319 coverage, or may elect to accept or continue coverage with the
320 corporation. Section 627.351(6)(c)5.a.(I) and b.(I) does not
321 apply to an offer of coverage from an authorized insurer
322 obtained through the program. As used in this subsection, the
323 term “primary residence” has the same meaning as in s.
324 627.351(6)(c)2.a.
325 (b) Any applicant for new commercial lines residential
326 coverage from the corporation is not eligible for coverage from
327 the corporation if provided an offer of comparable coverage from
328 an authorized insurer through the program at a premium that is
329 at or below the eligibility threshold for applicants for new
330 coverage established in s. 627.351(6)(c)5.c. Whenever an offer
331 of comparable coverage for a commercial lines residential risk
332 is received for a policyholder of the corporation at renewal
333 from an authorized insurer through the program which is at or
334 below the eligibility threshold in s. 627.351(6)(c)5.c., the
335 risk is not eligible for coverage from the corporation. In the
336 event that an offer of coverage for a new applicant is received
337 from an authorized insurer through the program, and the premium
338 offered exceeds the eligibility threshold established in s.
339 627.351(6)(c)5.c., the applicant or insured may elect to accept
340 such coverage or may elect to accept or continue coverage with
341 the corporation. In the event that an offer of coverage for a
342 commercial lines residential risk is received from an authorized
343 insurer at renewal through the program, and the premium offered
344 exceeds the eligibility threshold for policyholders of the
345 corporation established in s. 627.351(6)(c)5.c., the insured may
346 elect to accept such coverage or may elect to accept or continue
347 coverage with the corporation. Section 627.351(6)(c)5.c.(I) does
348 not apply to an offer of coverage from an authorized insurer
349 obtained through the program.
350 (c)1. Except as provided in subparagraph 2., any applicant
351 for new commercial lines residential coverage or commercial
352 lines nonresidential coverage from the corporation and any
353 policyholder of the corporation, when such applicant or
354 corporation policyholder is offered commercial lines residential
355 or commercial lines nonresidential coverage pursuant to the
356 program by an approved surplus lines clearinghouse insurer,
357 remains eligible for coverage from the corporation. The
358 applicant or policyholder receiving an offer from an approved
359 surplus lines clearinghouse insurer may elect to accept such
360 coverage or may elect to accept or continue coverage with the
361 corporation.
362 2. Any applicant for new commercial lines residential
363 coverage or commercial lines nonresidential coverage from the
364 corporation and any policyholder of the corporation, when such
365 applicant or corporation policyholder is offered commercial
366 lines residential or commercial lines nonresidential coverage by
367 an approved surplus lines insurer pursuant to the program and
368 such offered coverage has material terms and conditions that are
369 substantially equivalent to or better than coverage from the
370 corporation as to all aspects of such coverage, as determined by
371 the corporation through the clearinghouse process and applicable
372 program standards, and the total cost of such insurance coverage
373 is not more than 20 percent greater than the total cost of
374 insurance coverage from the corporation, may elect to accept
375 such coverage from the approved surplus lines clearinghouse
376 insurer or may elect to accept or continue coverage with the
377 corporation, but, if electing corporation coverage, such
378 applicant or policyholder must pay a premium for corporation
379 coverage that is subject to s. 627.351(6)(oo).
380 3. Section 627.351(6)(c)5.c.(I) does not apply to an offer
381 of coverage from an approved surplus lines clearinghouse insurer
382 obtained through the program.
383 (6) Independent insurance agents submitting new
384 applications for coverage or that are the agent of record on a
385 renewal policy submitted to the program:
386 (a) Are granted and must maintain ownership and the
387 exclusive use of expirations, records, or other written or
388 electronic information directly related to such applications or
389 renewals written through the corporation or through an insurer
390 participating in the program, notwithstanding s. 627.351(5)(a),
391 s. 627.351(6)(c)5.a.(I)(B) and (II)(B), or s.
392 627.351(6)(c)5.b.(I)(B) and (II)(B). Such ownership is granted
393 for as long as the insured remains with the agency or until sold
394 or surrendered in writing by the agent. Contracts with the
395 corporation or required by the corporation or with any insurer
396 or surplus lines agent may must not amend, modify, interfere
397 with, or limit such rights of ownership. Such expirations,
398 records, or other written or electronic information may be used
399 to review an application, issue a policy, or for any other
400 purpose necessary for placing such business through the program.
401 (b) May not be required to be appointed by any insurer
402 participating in the program for policies written solely through
403 the program, notwithstanding the provisions of s. 626.112.
404 (c) May accept an appointment from any insurer
405 participating in the program.
406 (d) May enter into either a standard or limited agency
407 agreement with the insurer, at the insurer’s option, and may
408 enter into agreements with a surplus lines agent.
409
410 Applicants ineligible for coverage in accordance with subsection
411 (5) remain ineligible if their independent agent is unwilling or
412 unable to enter into a standard or limited agency agreement with
413 an insurer participating in the program.
414 (7) Exclusive agents submitting new applications for
415 coverage or that are the agent of record on a renewal policy
416 submitted to the program:
417 (a) Must maintain ownership and the exclusive use of
418 expirations, records, or other written or electronic information
419 directly related to such applications or renewals written
420 through the corporation or through an insurer participating in
421 the program, notwithstanding s. 627.351(6)(c)5.a.(I)(B) and
422 (II)(B) or s. 627.351(6)(c)5.b.(I)(B) and (II)(B). Contracts
423 with the corporation or required by the corporation must not
424 amend, modify, interfere with, or limit such rights of
425 ownership. Such expirations, records, or other written or
426 electronic information may be used to review an application,
427 issue a policy, or for any other purpose necessary for placing
428 such business through the program.
429 (b) May not be required to be appointed by any insurer
430 participating in the program for policies written solely through
431 the program, notwithstanding the provisions of s. 626.112.
432 (c) Must only facilitate the placement of an offer of
433 coverage from an insurer whose limited servicing agreement is
434 approved by that exclusive agent’s exclusive insurer.
435 (d) May enter into a limited servicing agreement with the
436 insurer making an offer of coverage, and only after the
437 exclusive agent’s insurer has approved the limited servicing
438 agreement terms. The exclusive agent’s insurer must approve a
439 limited service agreement for the program for any insurer for
440 which it has approved a service agreement for other purposes.
441
442 Applicants ineligible for coverage in accordance with subsection
443 (5) remain ineligible if their exclusive agent is unwilling or
444 unable to enter into a standard or limited agency agreement with
445 an insurer making an offer of coverage to that applicant.
446 (8) Submission of an application for coverage by the
447 corporation to the program does not constitute the binding of
448 coverage by the corporation, and failure of the program to
449 obtain an offer of coverage by an insurer may not be considered
450 acceptance of coverage of the risk by the corporation.
451 (9) The 45-day notice of nonrenewal requirement set forth
452 in s. 627.4133(2)(b)5. applies when a policy is nonrenewed by
453 the corporation because the risk has received an offer of
454 coverage pursuant to this section which renders the risk
455 ineligible for coverage by the corporation.
456 (10) The program may not include commercial nonresidential
457 policies.
458 (11) Proprietary business information provided to the
459 corporation’s clearinghouse by insurers with respect to
460 identifying and selecting risks for an offer of coverage is
461 confidential and exempt from s. 119.07(1) and s. 24(a), Art. I
462 of the State Constitution.
463 (a) As used in this subsection, the term “proprietary
464 business information” means information, regardless of form or
465 characteristics, which is owned or controlled by an insurer and:
466 1. Is identified by the insurer as proprietary business
467 information and is intended to be and is treated by the insurer
468 as private in that the disclosure of the information would cause
469 harm to the insurer, an individual, or the company’s business
470 operations and has not been disclosed unless disclosed pursuant
471 to a statutory requirement, an order of a court or
472 administrative body, or a private agreement that provides that
473 the information will not be released to the public;
474 2. Is not otherwise readily ascertainable or publicly
475 available by proper means by other persons from another source
476 in the same configuration as provided to the clearinghouse; and
477 3. Includes:
478 a. Trade secrets, as defined in s. 688.002.
479 b. Information relating to competitive interests, the
480 disclosure of which would impair the competitive business of the
481 provider of the information.
482
483 Proprietary business information may be found in underwriting
484 criteria or instructions which are used to identify and select
485 risks through the program for an offer of coverage and are
486 shared with the clearinghouse to facilitate the shopping of
487 risks with the insurer.
488 (b) The clearinghouse may disclose confidential and exempt
489 proprietary business information:
490 1. If the insurer to which it pertains gives prior written
491 consent;
492 2. Pursuant to a court order; or
493 3. To another state agency in this or another state or to a
494 federal agency if the recipient agrees in writing to maintain
495 the confidential and exempt status of the document, material, or
496 other information and has verified in writing its legal
497 authority to maintain such confidentiality.
498 Section 3. This act shall take effect upon becoming a law.
499
500 ================= T I T L E A M E N D M E N T ================
501 And the title is amended as follows:
502 Delete everything before the enacting clause
503 and insert:
504 A bill to be entitled
505 An act relating to the Citizens Property Insurance
506 Corporation; amending s. 627.351, F.S.; prohibiting
507 the corporation from issuing or renewing coverage for
508 commercial residential and commercial nonresidential
509 risks under certain circumstances; prohibiting the
510 corporation from imposing a premium equalization
511 adjustment under certain circumstances; providing
512 applicability; specifying the components of the total
513 cost of insurance coverage; specifying that certain
514 adjustments expire at a specified time; amending s.
515 627.3518, F.S.; deleting an obsolete provision;
516 defining terms; revising the definition of the term
517 “program”; requiring the corporation to establish a
518 personal lines clearinghouse for specified purposes;
519 requiring, on or before a specified date, the
520 corporation to implement a commercial lines
521 clearinghouse for a specified purpose; authorizing the
522 corporation to develop and implement a separate
523 commercial lines clearinghouse for specified purposes;
524 deleting obsolete provisions; revising the program’s
525 rights and responsibilities; revising the rights and
526 responsibilities the corporation has in establishing
527 the program; authorizing approved surplus lines
528 clearinghouse insurers to participate in the
529 commercial lines clearinghouse; prohibiting such
530 insurers from participating in the personal lines
531 clearinghouse; specifying that participation in the
532 program is not mandatory for such insurers; revising
533 prohibitions and requirements for insurers making
534 offers of coverage to new applicants or renewal
535 policyholders through the program; providing
536 construction; defining the term “effective commission
537 percentage”; specifying that applicants for new
538 commercial lines residential coverage are not eligible
539 for coverage from the corporation under certain
540 circumstances; specifying the circumstances under
541 which policyholders of the corporation are not
542 eligible for new commercial lines residential coverage
543 from the corporation; authorizing applicants or
544 insureds to elect to accept coverage with authorized
545 insurers or elect to accept or continue coverage with
546 the corporation under certain circumstances;
547 authorizing insureds to elect to accept coverage with
548 specified insurers or elect to accept or continue
549 coverage with the corporation under certain
550 circumstances; providing applicability; specifying
551 that certain applicants and policyholders remain
552 eligible for coverage from the corporation;
553 authorizing such applicants and policyholders to elect
554 to accept coverage from clearinghouse insurers or
555 elect to accept or continue coverage with the
556 corporation; authorizing certain applicants and
557 policyholders of the corporation to elect to accept
558 coverage from clearinghouse insurers or elect to
559 accept or continue coverage with the corporation;
560 requiring such applicants or policyholders to pay a
561 specified total cost of insurance for corporation
562 coverage; providing applicability; revising the rights
563 and authorizations for certain independent insurance
564 agents; deleting a prohibition relating to commercial
565 nonresidential policies; providing an effective date.