69O-167.012. Certificates of Security for Hurricane Deductibles

(1) The purpose of this rule is to specify the form for a Certificate of Security to be used pursuant to Section 627.701(5), F.S. (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. (b) An insurer may not directly or indirectly require a secured hurricane deductible as a condition of issuing or renewing a policy. (3) An insurer shall accept a Certificate of Security only when it uses form OIR-A1-1203 (8/96), Certificate of Security, which is hereby adopted and incorporated by reference. Form OIR-A1-1203 may be obtained from the Office’s website at http://www.floir.com/iportal.