627.0665 Automatic bank withdrawal agreements; notification required.—Any insurer licensed to issue insurance in the state who has an automatic bank withdrawal agreement with an insured party for the payment of insurance premiums for any type of insurance shall give the named insured at least 10 days advance written notice of any increase in policy premiums which results in the next automatic bank withdrawal being increased by more than $10. Such notice must be provided before any automatic bank withdrawal containing the increased premium.
History.—ss. 1, 2, ch. 88-320; s. 114, ch. 92-318; s. 6, ch. 2023-217.
