INSURANCE 2009

HB 601 Compliance

I can not find any information for Condo owners compliance with hazard and liability insurance provisions for 2009, thank you for your kind attention.
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The query above came from a CV Resident by way of the “Contact Us” channel in the BLOG Sidebar. It is of interest to all of our Unit Owners.
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Identifying information has been redacted for reasons of privacy. All, highlighting in red below is mine,
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It is strongly recommended that all BLOGGERS read the entire Insurance statute:

FS 718.111 (11) (g)

Dave Israel
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First I have extracted the originating language from HB 601, upon which the Statute is founded:
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REF: http://www.ccfj.net/PB08H601.html
Commencing Circa line 43…..Requiring that an

association require each owner to provide evidence of a current policy of hazard and liability insurance upon request; limiting the frequency with which an association may make such a request; authorizing an association to purchase coverage on behalf of an owner under certain
circumstances; providing for the collection of the costs of such a policy; providing responsibilities of the unit owner and association with regard to reconstruction work and associated costs after a casualty loss;
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Following is the relevant extract from FS 718:
REF:
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http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=Ch0718/ch0718.htm

FS 718.111 (11) (g) 1., 2., 4.

(g) Every hazard insurance policy issued or renewed on or after January 1, 2009, to an individual unit owner must contain a provision stating that the coverage afforded by such policy is excess coverage over the amount recoverable under any other policy covering the same property. Such policies must include special assessment coverage of no less than $2,000 per occurrence. An insurance policy issued to an individual unit owner providing such coverage does not provide rights of subrogation against the condominium association operating the condominium in which such individual's unit is located.
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1. All improvements or additions to the condominium property that benefit fewer than all unit owners shall be insured by the unit owner or owners having the use thereof, or may be insured by the association at the cost and expense of the unit owners having the use thereof.
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2. The association shall require each owner to provide evidence of a currently effective policy of hazard and liability insurance upon request, but not more than once per year. Upon the failure of an owner to provide a certificate of insurance issued by an insurer approved to write such insurance in this state within 30 days after the date on which a written request is delivered, the association may purchase a policy of insurance on behalf of an owner. The cost of such a policy, together with reconstruction costs undertaken by the association but which are the responsibility of the unit owner, may be collected in the manner provided for the collection of assessments in s. 718.116.
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4. Unit owners are responsible for the cost of reconstruction of any portions of the condominium property for which the unit owner is required to carry casualty insurance, and any such reconstruction work undertaken by the association shall be chargeable to the unit owner and enforceable as an assessment pursuant to s. 718.116. The association must be an additional named insured and loss payee on all casualty insurance policies issued to unit owners in the condominium operated by the association.
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I hope this answers the question.
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Dave Israel