Florida Statutes 627.0655 – Policyholder loss or expense-related premium discounts
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Florida Statutes 627.0655
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Premium: means the consideration paid or to be paid to an insurer for the issuance and delivery of any binder or policy of insurance. See Florida Statutes 627.041
An insurer or person authorized to engage in the business of insurance in this state may include, in the premium charged an insured for any policy, contract, or certificate of insurance, a discount based on the fact that another policy, contract, or certificate of any type has been purchased by the insured from:
(1) The same insurer or insurer group, or another insurer under a joint marketing agreement;
(2) The Citizens Property Insurance Corporation created under s. 627.351(6), if the same insurance agent is servicing both policies;
(3) An insurer that has removed the policy from the Citizens Property Insurance Corporation or issued a policy pursuant to the clearinghouse program under s. 627.3518, if the same insurance agent is servicing both policies; or
(4) An insurer, if the same insurance agent is servicing the policies.