Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-196 - PREMIUM FINANCE COMPANIES
Section 69O-196.002 - Notice of Intent to Cancel to be Mailed
Current through Reg. 50, No. 187; September 24, 2024
(1) Section 627.848(1), F.S., provides that not less than ten days written notice be mailed to each insured shown on the premium finance agreement of the intent of the premium finance company to cancel the insurance contract unless the defaulted installment payment is received within ten days.
(2) The words "mailed to each insured" are interpreted to include a certificate of mailing to the last known address of the insured, and the premium finance company must maintain in its files a hard copy, photocopy, or electronically stored reproduction of the actual 10-day notice sent.
Rulemaking Authority 624.308(1), 627.848(1) FS. Law Implemented 624.307(1), 627.848 FS.
New 9-18-70, Repromulgated 12-24-74, Formerly 4-18.02, 4-18.002, Amended 7-27-95, Formerly 4-18.03, 4-18.003, 4-196.002.
