Bill No. 2994
Amendment No. 225601
Senate House

1Representative Bean offered the following:
3     Amendment to Amendment (170985) (with title amendments)
4     Between lines 910 and 911, insert:
5     Section 202.  Subsection (1) of section 627.7282, Florida
6Statutes, is amended to read:
7     627.7282  Notice of additional premium; cancellation upon
9     (1)  Upon a determination by an insurer that, in accordance
10with its rate filings and the applicable laws of this state
11relating to private passenger motor vehicle insurance, a
12policyholder has been charged a premium that is incorrect for
13the coverage set forth in the insurance application, the insurer
14shall immediately provide notice to the policyholder of the
15amount of additional premium due to the insurer. Such notice may
16be included with the initial policy form and state that the
17policyholder has the following options:
18     (a)  The policyholder has a period of 10 days, or a longer
19period if specified by the insurer, from receipt of the notice
20within which to pay the additional amount of premium due and
21thereby maintain the policy in full force under its original
23     (b)  The policyholder has a period of 10 days, or a longer
24period if specified by the insurer, from receipt of the notice
25within which to cancel the policy and demand a refund of any
26unearned premiums.
27     (c)  If the policyholder fails to timely respond to the
28notice, the insurer shall cancel the policy and return any
29unearned premium to the insured. The date on which the policy
30will be canceled shall be stated in the notice and shall in no
31case be less than 14 days after the date of the notice.
33================= T I T L E  A M E N D M E N T =================
34     Remove line 986, and insert:
35Services Commission to adopt rules; amending s. 627.7282, F.S.;
36revising a provision relating to a required insurer notice to a
37policyholder of an incorrect premium charge;

CODING: Words stricken are deletions; words underlined are additions.

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