CS for CS for SB 1046 - Insurance

• Postpones repeal of Florida Hurricane Catastrophe Fund emergency assessment exemption for medical malpractice insurance from May 31, 2013 to May 31, 2016.

• Authorizes electronic proof-of-insurance cards for motor vehicles with protections for privacy and law enforcement liability for device damage.

• Establishes Citizens Sinkhole Stabilization Repair Program requiring fixed-price contracts with qualified stabilization repair contractors and mandatory 5-year warranties on repairs.

• Increases nonrenewal notice period for residential property insurance from 100 to 120 days and prohibits cancellation after 90 days except for material misstatement, nonpayment, or substantial risk changes.

• Requires automatic conversion of registered insurance agencies to licensed insurance agencies effective October 1, 2013, and establishes "agent in charge" requirements for each insurance agency location.