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Florida Changes Several Insurance Code Provisions

June 18, 2015 AAIS Advisory notice

Florida has enacted numerous changes to its insurance code. Among other things, a new law:
  • Eliminates a requirement to certify property insurance rate filings that are subject to informational rate filing requirements;
  • Removes a requirement for annual commercial non-residential multi-peril rate filings when rates have not changed. (The rates are still subject to informational rate filing requirements.);
  • Allows insurers to use hurricane loss projection models and estimates of probable maximum losses in a rate filing for 120 days (rather than 60 days) following the expiration date of the model;
  • Establishes a uniform due date for notices of cancellation, nonrenewal, or termination of residential property insurance. (All policyholders must get at least 120 days' notice, but insurers are no longer required to issue them before June 1.); and
  • Requires notice of a right to participate in the state's neutral evaluation program of sinkhole claims, but only if there is sinkhole coverage in force and a sinkhole claim was submitted on a timely basis.

The law takes effect July 1, 2015. AAIS will notify program affiliates by bulletin of filing action in affected lines.

Another law, also effective July 1, allow personal lines insurers to deliver policy documents electronically if the policyholder affirmatively elects electronic delivery. The provision applies to policies, endorsements, notices, and other documents. 

That law also allows insurers to send notices of changes of policy terms separate from renewal notices, provided both are sent or transmitted at least 45 days before renewal. A policyholder's agent must be provided with a sample copy of a change in terms notice before or at the same time as notice is made to the insured.


AAIS Advisory notices are posted periodically to announce AAIS product developments, and to provide news items that are relevant to our program users. Advisory notices are news summaries that paraphrase documents which should be consulted directly for complete, authoritative information. 

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