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Florida Administrative Code (Last Updated: April 18, 2024) |
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69. Department of Financial Services |
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69O. OIR – Insurance Regulation |
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69O-167. Property And Casualty Insurance Contracts |
1(1) The purpose of this rule is to specify the form for a Certificate of Security to be used pursuant to Section 23627.701(5), 24Florida Statutes.
26(2)(a) An insurer that elects to offer a policy with a secured hurricane deductible on a personal lines property insurance policy shall require the insured to provide a Certificate of Security or a verification that the insured has a 100% equity interest in the property to be insured.
74(b) An insurer may not directly or indirectly require a secured hurricane deductible as a condition of issuing or renewing a policy.
96(3) An insurer shall accept a Certificate of Security only when it uses form OIR-1203 (8/96), Certificate of Security, which is hereby adopted and incorporated by reference. Form OIR-1203 may be obtained from the Bureau of Property and Casualty Solvency, Office of Insurance Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0329.
147Specific Authority 149627.701(5) FS. 151Law Implemented 153627.701(5) FS. 155History–New 4-29-97, Formerly 4-167.012.
