Senate Bill 542 by Senator Brandes passed the Senate this week as amended, and is on the way to the House. The amendment makes clear that insurers offering flood coverage could provide coverage’s beyond those specified in the bill, including a wrap policy available to National Flood Insurance Program insureds to supplement coverage available in that policy. The Senate removed provisions allowing insurers with surplus of at least $35 million to avoid filing a three year proforma and reinsurance plan prior to writing, effectively requiring all insurers to file such a plan before entering the flood market. HB 879 passed the Government Operations Subcommittee and is currently in the Regulatory Affairs Committee. The biggest point of contention between the House and Senate involves the Senate bill provision allowing policyholders to only purchase enough flood insurance coverage to pay the mortgage holder. While this would provide lower cost options to policyholders, it would leave many without the means to repair their houses after a flood. In addition, it would place greater pressure on wind insurers by policyholders attempting to get their homes fixed by claiming wind, not flood, caused the damage.


HOUSE PUSHES OMNIBUS INSURANCE BILLCS/CS/HB 565 passed the Regulatory Affairs Committee and has been added to the House Special Order Calendar on April 1st. This legislation is the House omnibus insurance bill containing various unrelated insurance issues. Some highlights of the bill are:

  • Allows a notice of change of policy terms to be provided to a policyholder separate from the renewal notice so long as the notice is sent within policy nonrenewal time limits. Additionally, the insurer must provide the policyholder’s insurance agent.

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.

  • Allows for electronic delivery of policy forms for personal lines where the policyholder so elects.
  • Amends nonrenewal notice requirements for property insurance to repeal the June 1st notice requirement for policies being cancelled, nonrenewed, or terminated between June 1st and November 30th. The bill also lengthens the notice time period under current law from 100 days to 120 days.
  • Amends post-claim underwriting regarding residential property insurance policy to provide that if a policy has been in effect for more than ninety (90) days a claim may not be denied or the policy cancelled based on credit information available in the public records.
  • Allows refunds of unearned premiums for insurance policies sold by licensed agents or insurers through a credit card facility to be made to the credit card holder by mail or electronic funds transfer;
  • Expands persons who may sign coverage statements given to persons making a claim under a liability insurance policy to include licensed company adjusters.
  • Repeals law requiring surplus lines agent to file a quarterly affidavit with Florida Surplus Lines Service Office regarding insurance transacted during the quarter.