FL H0375

Amends Florida Statutes section 624.425 to provide that the absence of a countersignature does not affect the validity of a property, casualty, or surety insurance policy or contract.

Allows multiple authorized insurers to countersign a single policy through any licensed and appointed agent of one of the insurers appearing on the policy.

Amends section 627.94072 to authorize long-term care insurance policies to offer nonforfeiture benefits in the form of a return of premium upon the insured's death or upon complete surrender or cancellation of the policy.

Requires that nonforfeiture benefits and any additional premiums be computed using an actuarially sound methodology filed with and approved by the office.

Effective date: July 1, 2014.