September 24, 2020
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Bill No. CS/CS/SB 2860
Amendment No. 341539
Senate House

1Representative Gelber offered the following:
3     Amendment to Amendment (128731) (with title amendment)
4     Between lines 3090and 3091 insert:
5     Section 25.  In addition to any other powers granted to the
6Financial Services Commission, the commission shall also require
7all property insurance contracts to contain a provision
8entitling the insured to a refund if the insured is canceled
9without good cause. The amount of the refund shall be
10established by the commission but shall be no less than 50
11percent of an annual premium and no more than 200 percent of an
12annual premium. This provision shall not apply if 1 year notice
13of cancellation is given.
T I T L E  A M E N D M E N T
20     Remove line 3309 and insert:
21wind coverage for certain structures; requiring the Financial
22Services Commission to require property insurance contracts to
23entitle insureds to a refund for contract cancellations without
24cause; providing criteria for refund amounts; providing an
25exception; providing for provisions

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