Florida Statutes 627.6845 – Policy forms used in connection with consolidations
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Terms Used In Florida Statutes 627.6845
- Consolidation: means any transaction in which a financial institution or servicer makes its premium collection services available to its debtors in connection with a particular insurer's ("new insurer") offer of credit insurance, which offer is made to debtors who, immediately prior to the offer, had credit insurance with another insurer ("old insurer") and were paying premiums for that insurance on a monthly or other regular basis. See Florida Statutes 627.677
A policy or group certificate of credit insurance used in connection with any consolidation, or an application, endorsement, or rider which becomes a part of any such policy or certificate, may not be issued or delivered in this state until a copy of the form has been filed with and approved by the office pursuant to s. 627.682.