FL H0929

Authorizes insurers to issue flood insurance policies on a "flexible" basis in addition to standard, preferred, customized, and supplemental options, allowing for customized coverage amounts, higher deductibles, actual cash value adjustments, and exclusions for contents or additional living expenses

Extends the deadline from October 1, 2019 to October 1, 2025 for insurers to use alternative statutory rate standards when establishing flood coverage rates, allowing rates based on reasonable rate of return rather than standard rate regulation requirements

Extends the surplus lines export exemption from July 1, 2017 to July 1, 2020, allowing surplus lines agents to place flood coverage with eligible surplus lines insurers without first seeking coverage from three or more authorized insurers

Applies only to personal lines residential flood coverage; excludes commercial lines and excess flood coverage over other flood insurance policies

Effective date: July 1, 2016