HB 503 — Insurance

"Covered policy" does not include any policy that excludes wind coverage or hurricane coverage or any reinsurance agreement and does not include any policy otherwise meeting this definition which is Pageissued 5ofby 35a CODING:surplus lines insurer or a reinsurer.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 issued by a surplus lines insurer or a reinsurer.

440.381Page Application5of for31 coverage;CODING:

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hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB503 2022 440.381 Application for coverage;

The rules must require shall provide that employers in all classes other than the construction class be audited at least not less frequently than biennially and may provide for more Pagefrequent 6ofaudits 35of CODING:employers in specified classifications based on factors such as amount of premium, type of business, loss ratios, or other relevant factors.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 frequent audits of employers in specified classifications based on factors such as amount of premium, type of business, loss ratios, or other relevant factors.

Payroll verification audit rules must include, but need not be limited to, the use of state and federal reports of employee income, payroll and other accounting records, certificatesPage of6of insurance31 maintainedCODING: by subcontractors, and duties of employees.

At the completion of an audit, the employer or officer of the corporation and the auditor must print and sign their names on the audit document and attach proof of identification to the audit document.

Section 3.

Subsection (3) is added to section 624.413, Florida Statutes, to read:

624.413 Application for certificate of authority.— (3)(a) If the aggregate percentage of ownership by persons maintaining citizenship from, residing in, or domiciled in, the same jurisdiction outside the United States is more than 10 percent of an applicant for a certificate of authority from the office, or if such persons acquire or intend to acquire in the aggregate more than 10 percent ownership in an existing stock Page 7of 35 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 insurercertificates possessing a certificate of authorityinsurance frommaintained theby office,subcontractors, thenand suchduties personsof mayemployees. be:

1.At the completion of an audit, the employer or officer of the corporation and the auditor must print and sign their names on the audit document and attach proof of identification to the audit document.

DeemedSection to3. have control;

and 2.

Subject to the requirements of sworn biographical statements, legible copies of fingerprints, and authority for release of information in regard to the investigation of such persons' backgrounds as specified in s.

628.051(2)(b).

(b) The office may apply the same criteria described in paragraph (a) to each of the following applications to determine if a person is deemed to have control and is subject to the requirements of a sworn biographical statement, legible copies of fingerprints, and authority for release of information in regard to the investigation of the person's background as specified in s.

628.051(2)(b):

1.

A certificate of authority to form multiple-employer welfare arrangements under s.

624.437.

2.

A certificate of authority to act as an insurance administrator under s.

626.8805.

3.

A permit to form domestic insurer under s.

628.051.

4.

An acquisition of control stock or voting securities under s.

628.461.

5.

An acquisition of ownership interest or control stock of a specialty insurer under s.

628.4615.

6.

A certificate of authority to transact insurance as a domestic reciprocal insurer under s.

629.081.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 7.

A license to issue motor vehicle service agreements under s.

634.041.

8.

A license to issue home warranties under s.

634.304.

9.

A license to issue service warranties under s.

634.404.

10.

A certificate of authority to operate as a prepaid limited health service organization under s.

636.008.

11.

A license to operate as a discount plan organization under s.

636.204.

12.

A certificate of authority to operate as a health maintenance organization under s.

641.21.

13.

A certificate of authority to operate as a prepaid health clinic under s.

641.405.

14.

A certificate of authority to offer continuing care contracts under ss.

651.022–651.0245.

Section 4.

Section 5.4.

exemptions.— Page(1) 9ofThe 35department CODING:may not issue any license as agent or adjuster to any individual who has not qualified for, taken, and passed to the satisfaction of the department a written examination of the scope prescribed in s.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 (1) The department may not issue any license as agent or adjuster to any individual who has not qualified for, taken, and passed to the satisfaction of the department a written examination of the scope prescribed in s.

(j) An applicant for license as an all-lines adjuster who has the designation of Accredited Claims Adjuster (ACA) from a regionally accredited postsecondary institution in this state, CertifiedPage All7of Lines31 AdjusterCODING: (CALA) from Kaplan, Associate in Claims (AIC) from the Insurance Institute of America, Professional Claims Adjuster (PCA) from the Professional Career Institute, Professional Property Insurance Adjuster (PPIA) from the HurriClaim Training Academy, Certified Adjuster (CA) from ALL LINES Training, Certified Claims Adjuster (CCA) from AE21 Incorporated, Claims Adjuster Certified Professional (CACP) from WebCE, Inc., Accredited Insurance Claims Specialist (AICS) from Encore Claim Services, or Universal Claims Certification (UCC) from Claims and Litigation Management Alliance (CLM) whose curriculum has been approved by the department and which includes comprehensive analysis of basic property and casualty lines of insurance and testing at least equal to that of standard department testing for the all-lines adjuster license.

The department shall adopt rules establishing standards for the approval of curriculum.

Page 10 of35 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 SectionCertified 6.All Lines Adjuster (CALA) from Kaplan, Associate in Claims (AIC) from the Insurance Institute of America, Professional Claims Adjuster (PCA) from the Professional Career Institute, Professional Property Insurance Adjuster (PPIA) from the HurriClaim Training Academy, Certified Adjuster (CA) from ALL LINES Training, Certified Claims Adjuster (CCA) from AE21 Incorporated, Claims Adjuster Certified Professional (CACP) from WebCE, Inc., Accredited Insurance Claims Specialist (AICS) from Encore Claim Services, or Universal Claims Certification (UCC) from Claims and Litigation Management Alliance (CLM) whose curriculum has been approved by the department and which includes comprehensive analysis of basic property and casualty lines of insurance and testing at least equal to that of standard department testing for the all-lines adjuster license.

The department shall adopt rules establishing standards for the approval of curriculum.

Section 5.

626.856 "Company employee adjuster" defined.—A "company employee adjuster" means a person licensed as an all-lines adjuster who is appointed and employed on an insurer's staff of adjusters, by an affiliate, or by a wholly owned subsidiary of the insurer, and who undertakes on behalf of such insurer or other insurers under common control or ownership to ascertain and determine the amount of any claim, loss, or damage payable underPage a8of contract31 ofCODING: insurance, or undertakes to effect settlement of such claim, loss, or damage.

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hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB503 2022 under a contract of insurance, or undertakes to effect settlement of such claim, loss, or damage.

Section 6.

The provisions of this subsection do not apply to workers' Pagecompensation, 11employer's of35liability CODING:insurance, and motor vehicle insurance.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 compensation, employer's liability insurance, and motor vehicle insurance.

Section 8.

Paragraph (b) of subsection (2) of section 627.0628, Florida Statutes, is amended to read:

627.0628 Florida Commission on Hurricane Loss Projection Methodology;

public records exemption;

public meetings exemption.— (2) COMMISSION CREATED.— (b) The commission shall consist of the following 12 members:

1.

The insurance consumer advocate.

2.

The senior employee of the State Board of Administration responsible for operations of the Florida Hurricane Catastrophe Fund.

3.

The Executive Director of the Citizens Property Insurance Corporation.

4.

The Director of the Division of Emergency Management, or the director's designee, provided that the designee is a full-time employee of the division.

5.

The actuary member of the Florida Hurricane Catastrophe Fund Advisory Council.

6.

An employee of the office who is an actuary responsible for property insurance rate filings and who is appointed by the director of the office.

7.

Five members appointed by the Chief Financial Officer, Page 12 of35 CODING:

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 as follows:

a.

An actuary who is employed full time by a property and casualty insurer that was responsible for at least 1 percent of the aggregate statewide direct written premium for homeowner insurance in the calendar year preceding the member's appointment to the commission.

b.

An expert in insurance finance who is a full-time member of the faculty of the State University System and who has a background in actuarial science.

c.

An expert in statistics who is a full-time member of the faculty of the State University System and who has a background in insurance.

d.

An expert in computer system design who is a full-time member of the faculty of the State University System.

e.

An expert in meteorology who is a full-time member of the faculty of the State University System and who specializes in hurricanes.

8.

A licensed professional structural engineer who is a full-time faculty member in the State University System and who has expertise in wind mitigation techniques.

This appointment shall be made by the Governor.

Section 9.

rate filings.— (9) An insurer may file with the office a personal lines residential property insurance rating plan that provides justified premium discounts, credits, or other rate differentials based on windstorm mitigation construction Page 139of of3531 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 residential property insurance rating plan that provides justified premium discounts, credits, or other rate differentials based on windstorm mitigation construction standards developed by an independent, not-for-profit scientific research organization, if such standards meet the requirements of this section.

Section 10.8.

notification required.—Any insurer licensed to issue insurance in this the state who has an automatic bank withdrawal agreement with an insured party for the payment of insurance premiums for any type of insurance shall give the named insured at least 10 15 days advance written notice of any increase in policy premiums that results in the next automatic bank withdrawal being increased by more than $10.

Section 11.9.

Page1. 14 of35 CODING:

The Legislature finds that private insurers are unwilling or unable to provide affordable property insurance coverage in this state to the extent sought and needed.

The Page 10 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 1.absence of affordable property insurance threatens the public health, safety, and welfare and likewise threatens the economic health of the state.

The Legislature finds that private insurers are unwilling or unable to provide affordable property insurance coverage in this state to the extent sought and needed.

The absence of affordable property insurance threatens the public health, safety, and welfare and likewise threatens the economic health of the state.

To that end, the corporation shall strive to increase the availability of affordable property insurance in this state, while achieving efficiencies and economies, and while providing Pageservice 15to of35policyholders, CODING:applicants, and agents which is no less than the quality generally provided in the voluntary market, for the achievement of the foregoing public purposes.

Page 11 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 serviceBecause it is essential for this government entity to policyholders,have applicants,the andmaximum agentsfinancial whichresources to pay claims following a catastrophic hurricane, it is nothe lessintent thanof the qualityLegislature generallythat providedthe incorporation continue to be an integral part of the voluntarystate market,and forthat the achievementincome of the foregoingcorporation publicbe purposes.exempt from federal income taxation and that interest on the debt obligations issued by the corporation be exempt from federal income taxation.

Because it is essential for this government entity to have the maximum financial resources to pay claims following a catastrophic hurricane, it is the intent of the Legislature that the corporation continue to be an integral part of the state and that the income of the corporation be exempt from federal income taxation and that interest on the debt obligations issued by the corporation be exempt from federal income taxation.

For the purposes of this subsection, residential coverage includes both personal lines residential coverage, which consists of the type Pageof 16coverage of35provided CODING:by homeowner, mobile home owner, dwelling, tenant, condominium unit owner, and similar policies;

and commercial lines residential coverage, which consists of the Page 12 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 type of coverage provided by homeowner, mobile home owner, dwelling, tenant, condominium unitassociation, owner,apartment building, and similar policies;policies.

and commercial lines residential coverage, which consists of the type of coverage provided by condominium association, apartment building, and similar policies.

Effective January 1, 2015, a structure that has a dwelling replacement cost of $900,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $900,000 or more, is not eligible for Pagecoverage 17by of35the CODING:corporation.

Such dwellings insured by the corporation on December 31, 2014, may continue to be covered by the corporation only until the end of the policy term.

Page 13 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 coveragec. by the corporation.

Such dwellings insured by the corporation on December 31, 2014, may continue to be covered by the corporation only until the end of the policy term.

c.

Page4. 18 of35 CODING:

It is the intent of the Legislature that policyholders, applicants, and agents of the corporation receive service and treatment of the highest possible level but never less than that Page 14 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 4.generally provided in the voluntary market.

It is the intent of the Legislature that policyholders, applicants, and agents of the corporation receive service and treatment of the highest possible level but never less than that generally provided in the voluntary market.

161.54(6)(a), that is newly constructed, or rebuilt, repaired, restored, or remodeled to increase the total square footage of finished area by more than 25 percent, pursuant to a permit applied for after PageJuly 191, of352015, CODING:is not eligible for coverage by the corporation if the structure is seaward of the coastal construction control line established pursuant to s.

161.053 or is within the Coastal Page 15 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 JulyBarrier 1,Resources 2015,System isas notdesignated eligible for coverage by the16 corporationU.S.C. if the structure is seaward of the coastal construction control line established pursuant to s.

161.053 or is within the Coastal Barrier Resources System as designated by 16 U.S.C.

Section 12.10.

Electronic transmission of a policy for commercial risks, including, but not limited to, workers' compensation and employers' liability, commercial automobile liability, commercial automobile physical damage, commercial lines residential property, commercial nonresidential property, Page 2016 of35of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 employers' liability, commercial automobile liability, commercial automobile physical damage, commercial lines residential property, commercial nonresidential property, farmowners insurance, and the types of commercial lines risks set forth in s.

Section 13.11.

The policyholder must personally write or type and provide to the insurer the following statement in his or her own Pagehandwriting 21and of35sign CODING:his or her name, which must also be signed by every other named insured on the policy, and dated:

"I do not want the insurance on my home to pay for the first (specify Page 17 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 handwritingdollar andvalue) signof hisdamage orfrom herhurricanes. name, which must also be signed by every other named insured on the policy, and dated:

"I do not want the insurance on my home to pay for the first (specify dollar value) of damage from hurricanes.

PageSection 2212. of35 CODING:

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 Section 14.

availabilityPage of18 exclusionsof31 forCODING: windstorm or contents.— (2) A property insurer must make available, at the option of the policyholder, an exclusion of windstorm coverage.

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hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB503 2022 availability of exclusions for windstorm or contents.— (2) A property insurer must make available, at the option of the policyholder, an exclusion of windstorm coverage.

insurance will not." (3) An insurer issuing a residential property insurance policy, except for a condominium unit owner policy or a tenant Pagepolicy, 23must of35make CODING:available, at the option of the policyholder, an exclusion of coverage for the contents.

The coverage may be excluded only if the policyholder personally writes or types and Page 19 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 policy,provides mustto makethe available,insurer at the optionfollowing ofstatement thein policyholder,his anor exclusionher ofown coveragehandwriting forand signs his or her signature, which must also be signed by every other named insured on the contents.policy, and dated:

The coverage may be excluded only if the policyholder personally writes or types and provides to the insurer the following statement in his or her own handwriting and signs his or her signature, which must also be signed by every other named insured on the policy, and dated:

My insurance will not." Section 15.13.

(9)(a) An assignee must provide the named insured, Pageinsurer, 24and of35the CODING:assignor, if not the named insured, with a written notice of intent to initiate litigation before filing suit under the policy.

Such notice must be served at least 10 Page 20 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 insurer,business anddays thebefore assignor,filing ifsuit, but not before the namedinsurer insured,has withmade a writtendetermination notice of intentcoverage to initiate litigation before filing suit under thes. policy.

Such notice must be served at least 10 business days before filing suit, but not before the insurer has made a determination of coverage under s.

Section 16.14.

627.7276 Notice of limited coverage.— (1) An automobile policy that does not contain coverage for bodily injury and property damage must include a notice be Pageclearly 25stamped of35or CODING:printed to the effect that such coverage is not included in the policy in the following manner:

Page 21 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 clearly"THIS stampedPOLICY orDOES printedNOT toPROVIDE BODILY INJURY AND PROPERTY DAMAGE LIABILITY INSURANCE OR ANY OTHER COVERAGE FOR WHICH A SPECIFIC PREMIUM CHARGE IS NOT MADE, AND DOES NOT COMPLY WITH ANY FINANCIAL RESPONSIBILITY LAW." (2) This notice legend must accompany appear on the effectpolicy thatdeclarations suchdeclaration coveragepage isand noton includedthe filing back of the policy and be printed in a contrasting color from that used on the policy and in type size at least as large as the followingtype manner:size used on the declarations page larger than the largest type used in the text thereof, as an overprint or by a rubber stamp impression.

"THISSection POLICY15. DOES NOT PROVIDE BODILY INJURY AND PROPERTY DAMAGE LIABILITY INSURANCE OR ANY OTHER COVERAGE FOR WHICH A SPECIFIC PREMIUM CHARGE IS NOT MADE, AND DOES NOT COMPLY WITH ANY FINANCIAL RESPONSIBILITY LAW." (2) This notice legend must accompany appear on the policy declarations declaration page and on the filing back of the policy and be printed in a contrasting color from that used on the policy and in type size at least as large as the type size used on the declarations page larger than the largest type used in the text thereof, as an overprint or by a rubber stamp impression.

Section 17.

However, they are shall be exempt from all other provisions of chapter 626, including those relating to fingerprinting, photo Pageidentification, 26education, of35and CODING:examination provisions.

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hb0503-02-c2 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503 2022 identification, education, and examination provisions.

A licensed and appointed salespersonPage is22 shallof31 beCODING: directly responsible and accountable for all acts of her or his employees and other representatives.

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hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/HB503 2022 salesperson is shall be directly responsible and accountable for all acts of her or his employees and other representatives.

Section 18.16.

exemptions.—A No person may not solicit, negotiate, or effectuate home warranty Pagecontracts 27for of35remuneration CODING:in this state unless such person is licensed and appointed as a sales representative.

A licensed and appointed sales representative is shall be directly responsible Page 23 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 contractsand accountable for remunerationall inacts thisof statethe unlesslicensee's suchemployees. person is licensed and appointed as a sales representative.

A licensed and appointed sales representative is shall be directly responsible and accountable for all acts of the licensee's employees.

Section 19.17.

Section 20.18.

Effective June 1, 2023, for the purpose of incorporating the amendment made by this act to section 215.555, Florida Statutes, in a reference thereto, subsection (10) of Pagesection 28624.424, of35Florida CODING:Statutes, is reenacted to read:

624.424 Annual statement and other information.— (10) Each insurer or insurer group doing business in this Page 24 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 sectionstate 624.424,shall Floridafile Statutes,on isa reenactedquarterly tobasis read:in conjunction with financial reports required by paragraph (1)(a) a supplemental report on an individual and group basis on a form prescribed by the commission with information on personal lines and commercial lines residential property insurance policies in this state.

624.424 Annual statement and other information.— (10) Each insurer or insurer group doing business in this state shall file on a quarterly basis in conjunction with financial reports required by paragraph (1)(a) a supplemental report on an individual and group basis on a form prescribed by the commission with information on personal lines and commercial lines residential property insurance policies in this state.

PageSection 2919. of35 CODING:

Effective June 1, 2023, for the purpose of incorporating the amendment made by this act to section 215.555, Florida Statutes, in a reference thereto, paragraph (v) of Page 25 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 Sectionsubsection 21.(6) of section 627.351, Florida Statutes, is reenacted to read:

Effective June 1, 2023, for the purpose of incorporating the amendment made by this act to section 215.555, Florida Statutes, in a reference thereto, paragraph (v) of subsection (6) of section 627.351, Florida Statutes, is reenacted to read:

Page3. 30 of35 CODING:

The Florida Windstorm Underwriting Association and the Residential Property and Casualty Joint Underwriting Association shall take all actions necessary to further evidence the Page 26 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 3.transfers and provide the documents and instruments of further assurance as may reasonably be requested by the corporation for that purpose.

The Florida Windstorm Underwriting Association and the Residential Property and Casualty Joint Underwriting Association shall take all actions necessary to further evidence the transfers and provide the documents and instruments of further assurance as may reasonably be requested by the corporation for that purpose.

Page4. 31 of35 CODING:

Effective July 1, 2002, a new applicant for property insurance coverage who would otherwise have been eligible for coverage in the Florida Windstorm Underwriting Association is Page 27 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 4.eligible for coverage from the corporation as provided in this subsection.

Effective July 1, 2002, a new applicant for property insurance coverage who would otherwise have been eligible for coverage in the Florida Windstorm Underwriting Association is eligible for coverage from the corporation as provided in this subsection.

Notwithstanding any other provision of law, the coastal account shall be treated, for all Florida Hurricane Catastrophe Fund purposes, as if it were a separate participating insurer with its own exposures, reimbursement Pagepremium, 32and of35loss CODING:reimbursement.

Likewise, the personal lines and commercial lines accounts shall be viewed together, for all fund purposes, as if the two accounts were one and represent a Page 28 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 single, separate participating insurer with its own exposures, reimbursement premium, and loss reimbursement.

Likewise, the personal lines and commercial lines accounts shall be viewed together, for all fund purposes, as if the two accounts were one and represent a single, separate participating insurer with its own exposures, reimbursement premium, and loss reimbursement.

Section 22.20.

Section 23.21.

For the purpose of incorporating the amendment made by this act to section 626.221, Florida Statutes, in a Pagereference 33thereto, of35paragraph CODING:(b) of subsection (1) of section 626.8734, Florida Statutes, is reenacted to read:

626.8734 Nonresident all-lines adjuster license Page 29 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 referencequalifications.— thereto,(1) paragraphThe (b)department ofshall subsectionissue (1)a oflicense sectionto 626.8734,an Floridaapplicant Statutes,for isa reenactednonresident toall-lines read:adjuster license upon determining that the applicant has paid the applicable license fees required under s.

626.8734 Nonresident all-lines adjuster license qualifications.— (1) The department shall issue a license to an applicant for a nonresident all-lines adjuster license upon determining that the applicant has paid the applicable license fees required under s.

Section 24.22.

Effective upon this act becoming a law, for the purpose of incorporating the amendment made by this act to section 627.7152, Florida Statutes, in references thereto, subsection (1) and paragraph (d) of subsection (2) of section Page627.7153, 34Florida of35Statutes, CODING:are reenacted to read:

627.7153 Policies restricting assignment of post-loss benefits under a property insurance policy.— Page 30 of31 CODING:

hb0503-02-c2hb0503-01-c1 F L O R I D A H O U S E O F R E P R E S E N T A T I V E S CS/CS/HB503CS/HB503 2022 627.7153,(1) FloridaAs Statutes,used arein reenactedthis tosection, read:the term "assignment agreement" has the same meaning as provided in s.

627.7153 Policies restricting assignment of post-loss benefits under a property insurance policy.— (1) As used in this section, the term "assignment agreement" has the same meaning as provided in s.

Section 25.23.

Page 3531 of35of31 CODING:

hb0503-02-c2hb0503-01-c1