September 19, 2020
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511229
  Amendment
Bill No. 1937
Amendment No. 511229
CHAMBER ACTION
Senate House
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1Representative(s) Johnson offered the following:
2
3     Amendment (with title amendment)
4     Between lines 918 and 919 insert:
5     Section 8.  Subsection (3) of section 627.7011, Florida
6Statutes, is renumbered as subsection (4), and a new subsection
7(3) is added to said section, to read:
8     627.7011  Homeowners' policies; offer of replacement cost
9coverage and law and ordinance coverage.--
10     (3)  In the event of a loss for which a dwelling or
11personal property is insured on the basis of replacement costs,
12the insurer shall pay the replacement cost without reservation
13or holdback of any depreciation in value, whether or not the
14insured replaces or repairs the dwelling or property.
15     (4)(3)  Nothing in this section shall be construed to apply
16to policies not considered to be "homeowners' policies," as that
17term is commonly understood in the insurance industry. This
18section specifically does not apply to mobile home policies.
19Nothing in this section shall be construed as limiting the
20ability of any insurer to reject or nonrenew any insured or
21applicant on the grounds that the structure does not meet
22underwriting criteria applicable to replacement cost or law and
23ordinance policies or for other lawful reasons.
24
25================ T I T L E  A M E N D M E N T =============
26     Remove line 48 and insert:
27disapproval of certain forms; amending s. 627.7011, F.S.;
28requiring an insurer to pay replacement costs under
29certain circumstances; amending s. 627.7015, F.S.;


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