Fla. Admin. Code R. 69B-124.013
The following statement is required under rule 69B-124.002, F.A.C., of the rules and regulations promulgated by the Chief Financial Officer relative to anti-coercion:
The Insurance Laws of this state provide that the lender may not require the borrower to take insurance through any particular insurance agent or company to protect the mortgaged property.
The borrower, subject to the rules adopted by the Chief Financial Officer, has the right to have the insurance placed with an insurance agent or company of his choice, provided the company meets the requirements of the lender. The lender has the rights to designate reasonable financial requirements as to the company and the adequacy of the coverage.
I have read the foregoing statement, or the rules of the Chief Financial Officer relative thereto, and understand my rights and privileges and those of the lender relative to the placing of such insurance.
I have selected the ___ Insurance Agency, or ___ Insurance Company to write the hazard insurance covering property located at:
_________________
Name of Borrower
_________________
Name of Borrower
_________________
Date
Fla. Admin. Code Ann. R. 69B-124.013
Rulemaking Authority 624.308, 626.9611 FS. Law Implemented 624.307(1), 626.9551(1) FS.
Repromulgated 12-24-74, Formerly 4-3.13, 4-3.013, 4-124.013, 4-124.013.