How HB 13 changes current law

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This bill revises and updates the windstorm coverage provisions related to the Citizens Property Insurance Corporation, including eliminating certain agreements among insurers and broadening coverage availability.

• 627.351

  Agreements may be made among property insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to, but are unable to procure, such insurance through ordinary methods; and such insurers may agree among themselves on the use of reasonable rate modifications for such insurance. Such agreements and rate modifications shall be subject to the applicable provisions of this chapter.

  Removes agreements among insurers about equitable apportionment of windstorm coverage.

• 627.351

  The department shall require all insurers holding a certificate of authority to transact property insurance on a direct basis in this state, other than joint underwriting associations and other entities formed pursuant to this section, to provide windstorm coverage to applicants from areas determined to be eligible pursuant to paragraph (c) who in good faith are entitled to, but are unable to procure, such coverage through ordinary means; or it shall adopt a reasonable plan or plans for the equitable apportionment or sharing among such insurers of windstorm coverage, which may include formation of an association for this purpose.

  Changes the methodology for providing windstorm coverage to those who cannot obtain it through ordinary means.

• 627.351

  2. → 1.

  Renumbers existing provisions to adjust to new organization.

• 627.351

  (3) WINDSTORM INSURANCE RISK APPORTIONMENT.— → (2) WINDSTORM INSURANCE RISK APPORTIONMENT.—

  Renumbers subsections to reflect the removal of previous statutory language.

• 627.351

  The department shall adopt rules that provide a formula for the recovery and repayment of any deferred assessments.

  Maintains regulatory authority of the department without specifying rules for assessments.

• 627.351

  as defined in s. 624.604, including insurance for fire, industrial fire, allied lines, farmowners multiperil, homeowners multiperil, commercial multiperil, and mobile homes, and including liability coverages on all such insurance, but excluding inland marine as defined in s. 624.607(3) and excluding vehicle insurance as defined in s. 624.605(1)(a) other than insurance on mobile homes used as permanent dwellings.

  Maintains the definition of property insurance while excluding certain coverages.

• 627.351

  1. For the purpose of this section, properties eligible for such windstorm coverage are defined as dwellings, buildings, and other structures, including mobile homes which are used as dwellings and which are tied down in compliance with mobile home tie-down requirements prescribed by the Department of Highway Safety and Motor Vehicles pursuant to s. 320.8325, and the contents of all such properties.

  Continues to define eligible properties for windstorm coverage.

• require the corporation to make windstorm coverage available to homeowners for any residential structures; providing requirements for the windstorm coverage; providing construction;

  Mandates that homeowners can obtain windstorm coverage for all residential structures.

• requiring the corporation to make windstorm coverage available for commercial lines residential structures; providing requirements for the windstorm coverage; providing construction;

  Expands coverage to include commercial lines for residential structures.

• 627.351

  removing certain definitions; revising certain statements obtained by agents from applicants for coverage from the corporation; providing definitions;

  Removes outdated definitions and updates information collection requirements.

• 627.351

  removing obsolete language;

  Cleans up the text by removing outdated references.

• providing underwriting and administering requirements for the windstorm coverage portion of insurance; providing administrative fees; providing requirements for claims settlement payments; removing obsolete dates;

  Introduces specific requirements for underwriting and administration of windstorm insurance.

• authorizing homeowners to obtain windstorm coverage from certain insurance agents;

  Allows homeowners to work with designated insurance agents for windstorm coverage.

• providing requirements for claims settlement payments; removing obsolete dates;

  Establishes processes for claims settlements and updates dates in the regulation.