Senate Amends Homeowners Bill of Rights–SB 2860

Senate Bill 2860, also known as the “Homeowners Bill of Rights,” was considered, debated and amended on the Senate floor today, April 10, 2008.

The following amendments were adopted to SB 2860 on second reading and are attached for your review:

• Three amendments (57950, 144270 and 185462) regarding permitted acts allowed by the Florida Insurance Code, underwriting profits and contingencies, and non-renewals of policies co-sponsored by Senators Jeff Atwater and Steven Geller
• Three amendments (109972, 148110 and 121376) regarding mitigation, coastal properties and the Florida Building Code sponsored by Senator Bill Posey.
• One technical amendment (342988) regarding agents sponsored by Senator Carey Baker.

Several amendments by Senator Al Lawson were thoroughly discussed and debated, but all were defeated.

SB 2860 next will be considered on third reading for final passage by the Senate. The bill revises legislative findings with respect to the Insurance Capital Build-Up Incentive Program and the appropriation of state funds for surplus notes issued by residential property insurers. It also subjects the business of insurance to the Florida Antitrust Act and prohibits an insurer from considering certain factors when evaluating or adjusting a property insurance claim.

Should you have any questions or comments, please do not hesitate to contact this office.

 

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