NOTICE IS HEREBY GIVEN THAT the Office of Insurance Regulation has received the petition for declaratory statement from Florida Premium Finance Association, Inc. The petition seeks the agency's opinion as to the applicability of Sections 627.7295(3), (4) and (7) and Section 627.848, Florida Statutes (2010), as it applies to the petitioner.
The Office received the petition on January 5, 2011. Petitioners request an opinion on whether premium finance companies can utilize a provision in the recent amendments to Section 627.7295(7), Florida Statutes, in order to cause the cancellation of a private passenger automobile insurance policy during the first sixty days of the policy period under certain circumstances specified in the statute.
A copy of the Petition for Declaratory Statement may be obtained by contacting: Jennifer C. Davis at jennifer.davis@floir.com.
Please refer all comments to: Jennifer C. Davis at jennifer.davis@floir.com.