Updates to the Printed Application and Renewal Declarations Page
août 30, 2013 - ATB #013-13
Effective October 1, 2013, Citizens will update the Personal Residential printed applications for homeowner and dwelling new-business submissions.
For renewals effective on and after November 1, 2013, Citizens will update the renewal Declarations page and Acknowledgement of Potential Surcharge and Assessment Liability (ACK-1 11 13) in the renewal package.
Printed Application Changes – Page 4
- Federal Credit Reporting Act (FCRA) – The FCRA verbiage will be removed from the Binder section, and a new FCRA section will be added.
- The Producer’s Certification and Applicant’s Agreement section will be separated into two boxes:
- The Producer’s Certification will include a new statement – Statement 4 – and will require the agent’s signature.
- The Applicant’s Agreement Statements 2 and 3 will be revised, the statement from the Sign section will be added and the applicant’s signature will be required.
- The edition date will be 10/2013.
Note: The existing Sign section will be removed and incorporated into the Producer’s Certification and Applicant’s Agreement sections:
Figure 1. Page 4: Separated Producer’s Certification and Applicant’s Agreement boxes
Acknowledgement of Potential Surcharge and Assessment Liability:
- To comply with changes in Florida law, additional language will be added to the Acknowledgement of Potential Surcharge and Assessment Liability statement
- For new business, the statement below will be added to the supplemental application as Statement 2, and the subsequent statements will be renumbered.
- For renewals, the statement below will be included on the Acknowledgement of Potential Surcharge and Assessment Liability form (ACK-1 11 13).
Figure 2. New Acknowledgement of Potential Surcharge and Assessment Liability statement
Renewal Declarations Page
The inflation statement on renewal Declarations pages will be revised to the following and will print only when Coverage A is adjusted due to an inflation factor greater than 1.00:
Your property coverage limits have been adjusted for inflation.
This change applies to the following policy forms:
- Citizens Homeowners 3 – Special Form (CIT HO-3)
- Citizens Homeowners 8 – Modified Coverage Form (CIT HO-8) when ACVis not included
- Dwelling Property 1 – Basic Form (CIT DP-1) – Dwelling
- Dwelling Property 3 – Special Form (CIT DP-3) – Dwelling
- Homeowners 2 – Wind-Only Form (HW-2)
- Dwelling Property 2 – Wind-Only Form (DW-2)