FL H1149

Authorized insurers and eligible surplus lines insurers are prohibited from canceling or nonrenewing personal or commercial residential property insurance policies on dwellings damaged by a covered peril until the earlier of repair completion or expiration of one subsequent policy renewal period.

Insurers may still cancel or nonrenew damaged-property policies with 10 days' notice for nonpayment of premium or loss of insurable interest, or with 45 days' notice for material misstatement/fraud, failure to respond to repair status inquiries within 30 calendar days, or payment of policy limits for the damaged structure.

The definition of "damage" is expanded to include flood damage related to a hurricane if flood is a covered peril, and "insurer" is expanded to include eligible surplus lines insurers in addition to authorized insurers.

The Commissioner of Insurance Regulation is authorized to issue orders preventing insurers from canceling or nonrenewing residential property policies in zip codes affected by widespread, significant flooding caused by a hurricane or natural event, with orders lasting up to 90 days and renewable in 90-day increments for a maximum of 270 days.

The bill applies retroactively to policies covering property damaged by Hurricane Ian or Hurricane Nicole and takes effect July 1, 2024.