FL H1327

Authorizes insurers to offer limited sinkhole coverage insurance for personal residential properties, covering only building stabilization and foundation repairs (not contents or additional living expenses), with a minimum policy limit of $50,000

Requires domestic insurers offering only limited sinkhole coverage to maintain $7.5 million in surplus funds, compared to $15-50 million required for standard residential property insurers

Prohibits Citizens Property Insurance Corporation from issuing limited sinkhole coverage insurance policies

Requires applicants to sign acknowledgment statements in 12-point bold uppercase type confirming they understand the "repair-only" nature of coverage and potential out-of-pocket expenses

Allows insurers to use limited sinkhole coverage forms without Office of Insurance Regulation approval and to set rates allowing reasonable return through October 1, 2019, with 30-day notification to the office for rate changes