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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b. Notices of cancellation issued or mailed on/after 8/25/17 through 9/3/17 are to be withdrawn and reissued on/after 10/15/17.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. 

Posted 12:00 PM

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