CS/HB 273 - Insurer Notifications Summary

• Authorizes policyholders of personal lines insurance to affirmatively elect electronic delivery of policy documents, endorsements, notices, and other documents instead of receiving them by mail.

• Requires insurers to provide advance written notice of any changes to renewal policy terms, which may be sent separately from the renewal premium notice within the timeframe for nonrenewal notices under Florida Insurance Code.

• Defines "optional coverage" as the addition of new insurance coverage not previously requested or approved by the policyholder, excluding changes to base policy, deductibles, or insurance limits.

• Prohibits insurers from using the Notice of Change in Policy Terms to add optional coverage that increases the policy premium unless the policyholder affirmatively approves the additional coverage.

• Requires insurers to provide a sample copy of the notice of change in policy terms to the insurance agent before or at the same time notice is provided to the named insured.

• Effective July 1, 2015.