Florida Regulations 61E1-4.003: Public Liability and Property Damage Insurance
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(1) As a prerequisite to the issuance of a license, the applicant shall submit a signed affidavit attesting the applicant has obtained and will maintain public liability and property damage insurance, in the amounts stated herein. It shall be a violation of this rule for any licensee to fail to continually maintain liability and property damage insurance in amounts set forth herein.
(2) To verify the accuracy of the signed affidavit, the Department will conduct random audits of at least 10% of the total number of licensees. Upon written request by the Department, by certified mail, each selected licensee must within thirty days submit proof of coverage, in the form of an original Certificate of Insurance, showing the licensee obtained and continually maintained the proper amount of public liability and property damage within the specified time period set forth in the Department’s request.
(3) The Certificate of Insurance must be prepared by a licensed insurance agency and must contain the following information.
(a) Date the Certificate of Insurance was issued.
(b) Name and license number of insurance agent.
(c) Name of insured must reflect the exact name of the entity qualified by applicant.
(d) Name of insurance company.
(e) Policy number must be on certificate. Binder numbers are not acceptable.
(f) Expiration date of policy.
(g) The minimum amount of liability and property damage insurance required as a prerequisite to the issuance of a license is:
1. Liability Insurance (including completed operations and products) $100,000/$300,000, and
2. Property Damage Insurance (including completed operations and products) $100,000/$300,000.
(h) Certificate holder must be the Department of Business and Professional Regulation.
(i) The cancellation notice shall stipulate that, should the public liability and property damage coverage described above, be canceled before the expiration date, the issuing company will mail a thirty-day written notice to the Certificate holder on the Certificate.
(j) The agent’s signature.
(k) The licensee’s correct license number.
(4) The insurance must be in the name of the licensee or the business name appearing on the license.
(5) Failure to comply with the Department’s request to submit proof of coverage, which meets the requirements of the Department, will be a violation of this rule.
Specific Authority 455.2035, 469.011 FS. Law Implemented 469.006, 469.007 FS. History-New 3-23-04.
Terms Used In Florida Regulations 61E1-4.003
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
(3) The Certificate of Insurance must be prepared by a licensed insurance agency and must contain the following information.
(a) Date the Certificate of Insurance was issued.
(b) Name and license number of insurance agent.
(c) Name of insured must reflect the exact name of the entity qualified by applicant.
(d) Name of insurance company.
(e) Policy number must be on certificate. Binder numbers are not acceptable.
(f) Expiration date of policy.
(g) The minimum amount of liability and property damage insurance required as a prerequisite to the issuance of a license is:
1. Liability Insurance (including completed operations and products) $100,000/$300,000, and
2. Property Damage Insurance (including completed operations and products) $100,000/$300,000.
(h) Certificate holder must be the Department of Business and Professional Regulation.
(i) The cancellation notice shall stipulate that, should the public liability and property damage coverage described above, be canceled before the expiration date, the issuing company will mail a thirty-day written notice to the Certificate holder on the Certificate.
(j) The agent’s signature.
(k) The licensee’s correct license number.
(4) The insurance must be in the name of the licensee or the business name appearing on the license.
(5) Failure to comply with the Department’s request to submit proof of coverage, which meets the requirements of the Department, will be a violation of this rule.
Specific Authority 455.2035, 469.011 FS. Law Implemented 469.006, 469.007 FS. History-New 3-23-04.