FL S1714

Discontinues policyholder premium discounts from Citizens Property Insurance Corporation effective January 1, 2013, except for discounts from the same insurer or insurer group.

Implements phased eligibility restrictions based on dwelling replacement cost, eliminating coverage for properties valued at $1 million or more starting January 1, 2012, declining to $500,000 or more by January 1, 2016.

Prohibits policyholders from engaging public adjusters until after the corporation tenders an offer and limits public adjuster fees to 5 percent of additional amounts paid over the corporation's original offer.

Requires applicants to sign acknowledgments of potential surcharge and assessment liability up to 45 percent of premiums and eliminates the corporation's acceptance of new commercial nonresidential risk applications.

Mandates separate flood insurance policies for properties in Special Flood Hazard Areas as condition of coverage starting January 1, 2012, and excludes coverage for screen enclosures, detached structures, and certain personal property effective February 1, 2012.