|
|
The 2025 Florida Statutes
|
|
|
|
|
F.S. 627.848627.848 Cancellation of insurance contract upon default.—(1) When a premium finance agreement contains a power of attorney or other authority enabling the premium finance company to cancel any insurance contract listed in the agreement, the insurance contract shall not be canceled unless cancellation is in accordance with the following provisions:(a)1. Not less than 10 days’ written notice shall be mailed to each insured shown on the premium finance agreement of the intent of the premium finance company to cancel her or his insurance contract unless the defaulted installment payment is received within 10 days. 2. After expiration of such period, the premium finance company shall mail to the insurer a request for cancellation, specifying the effective date of cancellation and the unpaid premium balance due under the finance contract, and shall mail a copy thereof to the insured at her or his last known address as shown on the premium finance agreement. (b) Every notice of cancellation shall include, in type or print of which its face shall not be smaller than 12 points, a statement that, if the insurance contract or contracts provide motor vehicle liability insurance required by the financial responsibility law, proof of financial responsibility is required to be maintained continuously for a period of 3 years, pursuant to chapter 324, and the operation of a vehicle without such financial responsibility is unlawful. (c) Upon receipt of a copy of the cancellation notice by the insurer or insurers, the insurance contract shall be canceled as of the date specified in the cancellation notice with the same force and effect as if the notice of cancellation had been submitted by the insured herself or himself, whether or not the premium finance company has complied with the notice requirement of this subsection, without requiring any further notice to the insured or the return of the insurance contract. (d) All statutory, regulatory, and contractual restrictions providing that the insured may not cancel her or his insurance contract unless she or he or the insurer first satisfies such restrictions by giving a prescribed notice to a governmental agency, the insurance carrier, a mortgagee, an individual, or a person designated to receive such notice for such governmental agency, insurance carrier, or individual shall apply when cancellation is effected under the provisions of this section. The insurer, in accordance with such prescribed notice when it is required to give such notice in behalf of itself or the insured, shall give notice to such governmental agency, person, mortgagee, or individual; and it shall determine and calculate the effective date of cancellation from the day it receives the copy of the notice of cancellation from the premium finance company. (e) Whenever a financed insurance contract is canceled, the insurer shall, within 30 days of the cancellation date, return the unpaid balance due under the finance contract, up to the gross amount available upon the cancellation of the policy, to the premium finance company and any remaining unearned premium to the agent or the insured, or both, for the benefit of the insured or insureds. The insurer shall, within 30 days of the cancellation date, notify the insured and the agent of the amount of unearned premium returned to the premium finance company and the amount of unearned commission held by the agent. The premium finance company shall, within 15 days after the account has been overpaid, either refund to the insured for the insured’s benefit any refund due on his or her account or, if the refund is sent or credited to the agent, return or credit to the agent the amount of the overpayment and notify the insured of the refunded amount. Within 15 days of receipt of notification from the premium finance company, the agent shall return such amount including any unearned commission to the insured or with the written approval of the insured apply such amount to the purchase of other insurance products regulated by the office. The commission may adopt rules necessary to implement the provisions of this subsection. (f) If an insurance contract is canceled by an insurer upon the receipt of a copy of the cancellation notice from a premium finance company, and if such premium finance company has failed to provide the notice required by this subsection, the insured shall have a cause of action against the premium finance company for damages caused by such failure to provide notice. (2) Any court of this state rendering or affirming a judgment or decree against a premium finance company and in favor of any named or omnibus insured or beneficiary arising out of a wrongful or improper cancellation of an insurance policy by such premium finance company shall award reasonable attorney’s fees to the insured or beneficiary. (3) The commission shall adopt a standard cancellation notice for use by premium finance companies in canceling insurance policies. The commission shall specify the color of the notice so as to promote usability and standardization. History.—s. 1, ch. 63-16; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, 6, ch. 80-363; ss. 2, 3, ch. 81-318; ss. 611, 612, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 23, ch. 83-288; s. 114, ch. 92-318; s. 22, ch. 93-410; s. 11, ch. 96-377; s. 1739, ch. 97-102; s. 3, ch. 97-204; s. 35, ch. 99-3; s. 17, ch. 2000-370; s. 1224, ch. 2003-261; s. 17, ch. 2004-370; s. 162, ch. 2004-390.
| |
Annotations, Discussions, Cases:
Cases Citing Statute 627.848
Total Results: 29
94 So. 3d 541, 37 Fla. L. Weekly Supp. 395, 2012 WL 1947863, 2012 Fla. LEXIS 1063
Supreme Court of Florida | Filed: May 31, 2012 | Docket: 60310909
Cited 80 times | Published
failure to fully comply with the requirements of section 627.848(3), Florida Statutes (1993). That statute required
410 F.3d 678, 2005 U.S. App. LEXIS 9637, 2005 WL 1242314
Court of Appeals for the Eleventh Circuit | Filed: May 26, 2005 | Docket: 398292
Cited 13 times | Published
question of Florida insurance law, namely, whether § 627.848, Fla. Stat. (2002), which governs insurance policy
526 F. Supp. 2d 1251, 2007 U.S. Dist. LEXIS 91826, 2007 WL 4531971
District Court, S.D. Florida | Filed: Nov 19, 2007 | Docket: 808586
Cited 8 times | Published
Finance, 651 So.2d 763, 764 (Fla. 3d DCA 1995). Section 627.848(1)(b)[4] which is about notices canceling insurance
624 So. 2d 252, 18 Fla. L. Weekly Supp. 488, 1993 Fla. LEXIS 1416, 1993 WL 365848
Supreme Court of Florida | Filed: Sep 16, 1993 | Docket: 475666
Cited 7 times | Published
following question for our consideration:
WHETHER SECTION 627.848 ALLOWS AN INSURER TO CANCEL AN INSURANCE CONTRACT
677 So. 2d 266, 21 Fla. L. Weekly Supp. 265, 1996 Fla. LEXIS 1011, 1996 WL 336077
Supreme Court of Florida | Filed: Jun 20, 1996 | Docket: 1266520
Cited 6 times | Published
give notice to the mortgagee. We disagree. Section 627.848, Florida Statutes (1987), provides in pertinent
466 So. 2d 1205, 10 Fla. L. Weekly 901, 1985 Fla. App. LEXIS 13325
District Court of Appeal of Florida | Filed: Apr 9, 1985 | Docket: 438331
Cited 5 times | Published
with the notice provisions of section 627.848. In turn, section 627.848 requires the finance company to
306 So. 2d 582
District Court of Appeal of Florida | Filed: Jan 6, 1975 | Docket: 1720537
Cited 5 times | Published
OF THE POLICY PURSUANT TO FLORIDA STATUTES, SECTION 627.848?
*584 "The Court further certifies that the
695 F.3d 1215, 2012 WL 4120351, 2012 U.S. App. LEXIS 19814
Court of Appeals for the Eleventh Circuit | Filed: Sep 20, 2012 | Docket: 1418071
Cited 4 times | Published
failure to fully comply with the requirements of section 627.848(3), Florida Statutes (1993). That statute required
831 So. 2d 681, 2002 WL 31255504
District Court of Appeal of Florida | Filed: Oct 9, 2002 | Docket: 2040084
Cited 3 times | Published
a premium finance company is addressed by section 627.848, Florida Statutes (1995). The statute provides
884 So. 2d 341, 2004 WL 2008227
District Court of Appeal of Florida | Filed: Sep 10, 2004 | Docket: 1281775
Cited 2 times | Published
premium financing company as defined by part XV.
Section 627.848(1)(e) of part XV sets forth the procedure to
766 So. 2d 449, 2000 WL 1226014
District Court of Appeal of Florida | Filed: Aug 30, 2000 | Docket: 2518115
Cited 2 times | Published
that it complied with the requirements of section 627.848, Florida Statutes (1993), in canceling the
766 So. 2d 449, 2000 WL 1226014
District Court of Appeal of Florida | Filed: Aug 30, 2000 | Docket: 2518115
Cited 2 times | Published
that it complied with the requirements of section 627.848, Florida Statutes (1993), in canceling the
538 So. 2d 61, 14 Fla. L. Weekly 270, 1989 Fla. App. LEXIS 289, 1989 WL 4373
District Court of Appeal of Florida | Filed: Jan 25, 1989 | Docket: 1517142
Cited 2 times | Published
invalid for failure to strictly comply with section 627.848, Florida Statutes (1981), dealing with cancellation
410 F.3d 678
Court of Appeals for the Eleventh Circuit | Filed: Jul 27, 2006 | Docket: 1926285
Cited 1 times | Published
interpretation of § 627.848, Fla. Stat. (2002). The question we
certified read: “Whether § 627.848, Fla. Stat
932 So. 2d 1028, 31 Fla. L. Weekly Supp. 310, 2006 Fla. LEXIS 891, 2006 WL 1375241
Supreme Court of Florida | Filed: May 18, 2006 | Docket: 1684645
Cited 1 times | Published
Circuit certified the following question:
WHETHER § 627.848, FLA. STAT. (2002), CONTEMPLATES A SINGLE DATE
163 B.R. 884, 7 Fla. L. Weekly Fed. B 372, 1994 Bankr. LEXIS 92, 1994 WL 37889
United States Bankruptcy Court, N.D. Florida | Filed: Jan 10, 1994 | Docket: 1768190
Cited 1 times | Published
held by the debtor's agent pursuant to Florida Statute 627.848(6) which provides that:
(6) Whenever an
935 F. Supp. 2d 1300, 2013 WL 1233190, 2013 U.S. Dist. LEXIS 42330
District Court, M.D. Florida | Filed: Mar 26, 2013 | Docket: 65990069
Published
Notice of Cancellation as given under Fla. Stat. § 627.848(l)(c) by PAC was sufficient cancellation of the
964 So. 2d 769, 2007 Fla. App. LEXIS 13846, 2007 WL 2480969
District Court of Appeal of Florida | Filed: Sep 5, 2007 | Docket: 64852420
Published
refunds where premium financing is involved is section 627.848, and it provides in subsection (l)(e):
(e)
457 F.3d 1172
Court of Appeals for the Eleventh Circuit | Filed: Jul 27, 2006 | Docket: 65657601
Published
interpretation of § 627.848, Fla. Stat. (2002). The question we certified read: “Whether § 627.848, Fla. Stat
837 So. 2d 423, 2002 Fla. App. LEXIS 11584, 2002 WL 1842517
District Court of Appeal of Florida | Filed: Aug 14, 2002 | Docket: 64820701
Published
later the same day.
The insurer relies on section 627.848(l)(f), which provides:
If an insurance contract
813 So. 2d 177, 2002 Fla. App. LEXIS 3557, 2002 WL 428733
District Court of Appeal of Florida | Filed: Mar 20, 2002 | Docket: 64814122
Published
the finance company failed to comply with section 627.848, Florida Statutes (1997).
Affirmed.
773 So. 2d 81, 2000 Fla. App. LEXIS 11055, 2000 WL 1228024
District Court of Appeal of Florida | Filed: Aug 31, 2000 | Docket: 64802275
Published
PAC complied with the notice requirements of section 627.848, and that it was entitled to rely on PAC’s
667 So. 2d 917, 1996 Fla. App. LEXIS 893, 1996 WL 47698
District Court of Appeal of Florida | Filed: Feb 7, 1996 | Docket: 64762208
Published
Affirmed. § 627.728(3)(a), Fla.Stat. (1989); § 627.848, Fla.Stat. (1989) (amended 1992, 1993); Insurance
664 So. 2d 1036, 1995 Fla. App. LEXIS 11954, 1995 WL 675547
District Court of Appeal of Florida | Filed: Nov 15, 1995 | Docket: 64760935
Published
remit any excess premiums to the insureds. See § 627.848, Fla.Stat. (Supp.1994) On the other hand, the
660 So. 2d 1132, 1995 Fla. App. LEXIS 9338, 1995 WL 521079
District Court of Appeal of Florida | Filed: Sep 6, 1995 | Docket: 64759063
Published
comparable but not identical provision in section 627.848(1) to allow the carrier to establish compliance
651 So. 2d 763, 1995 Fla. App. LEXIS 2285, 1995 WL 91844
District Court of Appeal of Florida | Filed: Mar 8, 1995 | Docket: 64754866
Published
insurance policy was cancelled. As required by Section 627.848(3), Florida Statutes (1993),1 *764the notice
603 So. 2d 520, 1992 Fla. App. LEXIS 6526, 1992 WL 135039
District Court of Appeal of Florida | Filed: Jun 17, 1992 | Docket: 64669275
Published
the premium finance cancellation statute, section 627.848, Florida Statutes (1987), and if not, whether
467 So. 2d 835, 1985 Fla. App. LEXIS 13737
District Court of Appeal of Florida | Filed: Apr 30, 1985 | Docket: 64611509
Published
Trust Co., 450 So.2d 1157 (Fla. 3d DCA 1984); § 627.848(6), Fla.Stat. (1983); Fla.Admin.Code Rule 4.28
397 So. 2d 725, 1981 Fla. App. LEXIS 19266
District Court of Appeal of Florida | Filed: Apr 14, 1981 | Docket: 64582197
Published
reference to insurance premium finance companies. Section 627.-848 provides for the cancellation of insurance
