Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel On March 10, 2020, the Senate amended the House genetic testing bill (HB 1189) to put their language on it. The Senate will likely vote to approve the bill on March 11, 2020 and then the bill will return to the House for approval of the Senate amendment. We…
By: Katrina Callaway, FIC General Counsel HB 1089 provides more flexibility on who pays taxes on trust investments. Specifically, the bill allows an independent trustee of any grantor trust to reimburse the grantor for all or part of the income taxes paid by the grantor as a result of the trust’s income. The life…
By: Katrina Callaway, FIC General Counsel The Senate loss run statement bill, SB 292, unanimously passed the full Senate on March 9, 2020. The bill will now go to the House for approval which we expect will happen. A delete all amendment was filed by the bill sponsor exempting life insurers from providing loss run…
By: Katrina Callaway, FIC General Counsel SB 1672 protects vulnerable investors from financial exploitation by allowing investment advisors or dealers to delay financial transactions if they suspect financial exploitation. Similar bills were filed in prior Sessions, but never passed. It appears the bill will finally pass this year. Some life insurers are interested in this…
By: Katrina Callaway, FIC General Counsel SB 1366 provides more flexibility on who pays taxes on trust investments. Specifically, the bill allows an independent trustee of any grantor trust to reimburse the grantor for all or part of the income taxes paid by the grantor as a result of the trust’s income. The life…
By: Katrina Callaway, FIC General Counsel HB 813 protects vulnerable investors from financial exploitation by allowing investment advisors or dealers to delay financial transactions if they suspect financial exploitation. The House passed the bill on February 20, 2020 with a vote of 118-0. The Senate will now consider the House bill. The Senate companion,…
By: Katrina Callaway, FIC General Counsel A bill providing more flexibility on who pays taxes on trust investments moved closer to passage this week. The bill allows an independent trustee of any grantor trust to reimburse the grantor for all or part of the income taxes paid by the grantor as a result of the…
By: Katrina Callaway, FIC General Counsel Only genetic information that is a medical diagnosis would be allowed to be used by life insurers under the Senate genetic testing bill (SB 1564) that sailed through its last Senate committee on February 20, 2020. The bill passed with a vote of 16-1. The bill will now be…
By: Katrina Callaway, FIC General Counsel SB 1672 protects vulnerable investors from financial exploitation by allowing investment advisors or dealers to delay financial transactions if they suspect financial exploitation. Similar bills were filed in prior Sessions, but never passed. Some life insurers are interested in this bill because they employ investment advisors or dealers that…
By: Katrina Callaway, FIC General Counsel Only genetic information that is a medical diagnosis would be allowed to be used by life insurers under an amendment (370850) adopted to the Senate genetic testing bill in committee on February 11, 2020. Sen. Stargel (R), the bill sponsor, offered the amendment saying it narrowed the bill…