Bill Amendment: FL S1344 | 2014 | Regular Session
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: Insurance
Status: 2014-06-13 - Chapter No. 2014-103 [S1344 Detail]
Download: Florida-2014-S1344-Senate_Committee_Amendment_615690.html
Bill Title: Insurance
Status: 2014-06-13 - Chapter No. 2014-103 [S1344 Detail]
Download: Florida-2014-S1344-Senate_Committee_Amendment_615690.html
Florida Senate - 2014 COMMITTEE AMENDMENT Bill No. CS for SB 1344 Ì6156901Î615690 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— 1 Senate Amendment (with title amendment) 2 3 Before line 13 4 insert: 5 Section 1. Paragraph (q) of subsection (1) of section 6 626.9541, Florida Statutes, is amended to read: 7 626.9541 Unfair methods of competition and unfair or 8 deceptive acts or practices defined.— 9 (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE 10 ACTS.—The following are defined as unfair methods of competition 11 and unfair or deceptive acts or practices: 12 (q) Certain insurance transactions through credit card 13 facilities prohibited.— 14 1. Except as provided in subparagraph 3., no person shall 15 knowingly solicit or negotiateanyinsurance; seek or accept 16 applications for insurance; issue or deliver any policy; 17 receive, collect, or transmit premiums, to or for anany18 insurer; or otherwise transact insurance in this state, or 19 relative to a subject of insurance resident, located, or to be 20 performed in this state, through the arrangement or facilities 21 of a credit card facility or organization, for the purpose of 22 insuring credit card holders or prospective credit card holders. 23 The term “credit card holder” as used in this paragraph means a 24anyperson who may pay the charge for purchases or other 25 transactions through the credit card facility or organization, 26 whose credit with such facility or organization is evidenced by 27 a credit card identifying such person as being one whose charges 28 the credit card facility or organization will pay, and who is 29 identified as such upon the credit cardeitherby name, account 30 number, symbol, insignia, oranyother method or device of 31 identification. This subparagraph does not apply as to health 32 insurance or to credit life, credit disability, or credit 33 property insurance. 34 2. IfWheneverany person does or performs in this state 35 any of the acts in violation of subparagraph 1. for or on behalf 36 of ananyinsurer or credit card facility, such insurer or 37 credit card facility shall be deemedheldto be doing business 38 in this state and, if an insurer, shall be subject to the same 39 state, county, and municipal taxes as insurers that have been 40 legally qualified and admitted to do business in this state by 41 agents or otherwise are subject, the same to be assessed and 42 collected against such insurers; and such person so doing or 43 performing any of such acts isshall bepersonally liable for 44 all such taxes. 45 3. A licensed agent or insurer may solicit or negotiateany46 insurance; seek or accept applications for insurance; issue or 47 deliver any policy; receive, collect, or transmit premiums, to 48 or for ananyinsurer; or otherwise transact insurance in this 49 state, or relative to a subject of insurance resident, located, 50 or to be performed in this state, through the arrangement or 51 facilities of a credit card facility or organization, for the 52 purpose of insuring credit card holders or prospective credit 53 card holders if: 54 a. The insurance or policy which is the subject of the 55 transaction is noncancelable by any person other than the named 56 insured, the policyholder, or the insurer; 57 b. Any refund of unearned premium is madedirectlyto the 58 credit card holder by mail or electronic transfer; and 59 c. The credit card transaction is authorized by the 60 signature of the credit card holder or other person authorized 61 to sign on the credit card account. 62 63 The conditions enumerated in sub-subparagraphs a.-c. do not 64 apply to health insurance or to credit life, credit disability, 65 or credit property insurance; and sub-subparagraph c. does not 66 apply to property and casualty insurance ifso long asthe 67 transaction is authorized by the insured. 68 4. No person may use or disclose information resulting from 69 the use of a credit card in conjunction with the purchase of 70 insurance if, whensuch information is to the advantage of the 71suchcredit card facility or an insurance agent, or is to the 72 detriment of the insured or any other insurance agent; except 73 that this provision does not prohibit a credit card facility 74 from using or disclosing such information in aanyjudicial 75 proceeding or consistent with applicable law on credit 76 reporting. 77 5.NoSuch insurance may notshallbe sold through a credit 78 card facility in conjunction with membership in any automobile 79 club. The term “automobile club” means a legal entity that 80which, in consideration of dues, assessments, or periodic 81 payments of money, promises its members or subscribers to assist 82 them in matters relating to the ownership, operation, use, or 83 maintenance of a motor vehicle; however, the termdefinition of84automobile clubsdoes not include persons, associations, or 85 corporations thatwhichare organized and operated solely for 86 the purpose of conducting, sponsoring, or sanctioning motor 87 vehicle races, exhibitions, or contests upon racetracks, or upon 88 race courses established and marked as such for the duration of 89 such particular event. The words “motor vehicle” used herein 90 shall be the same as defined in chapter 320. 91 Section 2. Subsections (1), (2), and (3) of section 92 627.7283, Florida Statutes, are amended to read: 93 627.7283 Cancellation; return of premium.— 94 (1) If the insured cancels a policy of motor vehicle 95 insurance, the insurer must mail or electronically transfer the 96 unearned portion of any premium paid within 30 days after the 97 effective date of the policy cancellation or receipt of notice 98 or request for cancellation, whichever is later. This 99 requirement applies to a cancellation initiated by an insured 100 for any reason. 101 (2) If an insurer cancels a policy of motor vehicle 102 insurance, the insurer must mail or electronically transfer the 103 unearned premium portion of any premium within 15 days after the 104 effective date of the policy cancellation. 105 (3) If the unearned premium is not mailed or electronically 106 transferred within the applicable period, the insurer must pay 107 to the insured 8 percent interest on the amount due. If the 108 unearned premium is not mailed or electronically transferred 109 within 45 days after the applicable period, the insured may 110 bring an action against the insurer pursuant to s. 624.155. 111 112 ================= T I T L E A M E N D M E N T ================ 113 And the title is amended as follows: 114 Delete line 2 115 and insert: 116 An act relating to insurance; amending s. 626.9541, 117 F.S.; revising provisions for unfair methods of 118 competition and unfair or deceptive acts relating to 119 conducting certain insurance transactions through 120 credit card facilities; amending s. 627.7283, F.S.; 121 allowing the electronic transfer of unearned premiums 122 under specified circumstances;