Emergency Order – Florida Insurance Commissioner

The Florida Insurance Commissioner has issued an emergency order to help provide clarity and assistance for policy holders while dealing with the aftermath of Hurricane Irma. Below is a summarization of the details. Please contact your agent for FULL information and any questions or concerns regarding your policy. 

Emergency Order – Florida Insurance Commissioner

1. Cancellations and Non-Renewals:

a. No company can cancel or non-renew a policy or issue a notice of cancellation or non-renewal between 9/4/17 and 10/15/17, except at the request of the insured.

b. Notices of cancellation issued or mailed on/after 8/25/17 through 9/3/17 are to be withdrawn and reissued on/after 10/15/17. The original cancellation is not invalid, but the company must extendcoverage to at least 10/15. The additional premium for the extension must be pro-rata of the annual premium.

c. HO, Dwelling fire, Condo, Apartment Building – Companies may not cancel or non-renew a policy that has been damaged as a result of a hurricane or wind loss for a period of 90 days after it has been repaired.

2. Extra 90 days to comply with company requirements: The time limit to comply with underwriting requirements that was to have been performed on or after 9/4/17 is extended to 12/3/17. This extension does not apply to new policies issued on or after 9/10/17

3. Policies Financed by a Premium Financing Company: a. For payments due between 9/4/17 and 10/15/17 - Victims of Hurricane Irma may bring their account current by 10/15/17 without late charges of penalties.

4. Rate Filings Suspended: a. Insurers may not execute any “file and use” rate changes for 90 days beginning 9/4/17. 5. The Order does not apply to new policies effective on or after 9/4/17. The order appears to apply to surplus lines policies – we expect clarification from the OIR shortly.

Extension of Grace Period for National Flood Insurance Policies 

1. The 30-day grace period for receipt of renewal premiums is changed to 120 calendar days for all flood policies with expiration dates between 8/7/17 and 10/6/17.

2. This also applies to policies with underpayment notices for additional payments due between 8/6/17 and before or on/after 10/7/17. 3. NFIP cannot pay a claim for a flood loss that occurs after the policy expiration date unless the renewal payment is received prior to the expiration of the grace period.