FIC: Insurer Insolvency Bill Approved By House Committee

By:  Sam Miller, FIC Consultant HB 837 Insurer Insolvency — by Raburn The Department of Financial Services’ insolvency package, including portions of the NAIC receivership model act, moved through the House Governmental Operations & Technology Subcommittee March 28 and will be before the Senate Appropriations Subcommittee on General Government March 29.  While both bills have…

FIC: STOLI Bill Moves in House and Senate

By:  Katrina Callaway, FIC General Counsel The recent decision by the Florida Supreme Court in Wells Fargo v. Pruco Life Insurance, a STOLI case decided unfavorably to life insurers, may be overturned by a bill passed by both the House and Senate Insurance Committees on March 27, 2017.   In this regard, the bill allows…

FIC: Drug Synch Bill approved by Senate Insurance, House Health Care Panels

By:  Sam Miller, FIC Consultant SB 800 Medication Synchronization — by BroxsonAmendment 445314, Broxson  [PDF] HB 1191 Medication Synchronization — by CruzAmendment 689821 Cruz [PDF]     A bill (CS/SB 800, CS/HB 1191) promoting partial refills and synchronization of prescription drugs advanced March 27 through the Senate Banking & Insurance Committee and House Health Innovation Subcommittee.…

FIC: Penn Treaty Bill Passes House Committee

By:  Katrina Callaway, FIC General Counsel The bill dealing with collection of assessments for long term care insurance due to the Penn Treaty insolvency passed its first committee on March 27, 2017.   The House Insurance and Banking Subcommittee passed the proposed committee substitute (PCS) for HB 1273 that was released on Thursday, March 23,…

FIC: PIP Repeal Bill Passes House Committee

By:  Katrina Callaway, FIC General Counsel With the bill sponsor saying she would consider bad faith reform in her PIP repeal bill but only if a rate rollback was also included, the House Insurance & Banking Subcommittee passed the proposed committee substitute for HB 1063 with a technical amendment. The Subcommittee spent over an hour…