Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel The life insurance interstate compact bill was filed in the House on February 1, 2019. HB 627 by Rep. Hart (D) is substantially similar to the Senate bill, SB 614, that was filed on January 30, 2019 by the Senate Banking and Insurance Chair, Sen. Broxson (R). The…
By: Katrina Callaway, FIC General Counsel Sen. Broxson (R), chair of the Senate Banking and Insurance Committee, filed the life insurance Interstate Compact bill, SB 614, on January 30, 2019. The 2019 Interstate Compact bill is the same as the one filed in 2018 which was also sponsored by Sen. Broxson, but did not get…
By: Katrina Callaway, FIC General Counsel On January 16, 2019, HB 301, an insurance omnibus bill, was filed by Rep. Santiago (R) that contains language proposed by the National Association of Insurance and Financial Advisors (NAIFA) requiring life insurers to notify agents by mail or electronically of the impending lapse in coverage. A variation…
By: Katrina Callaway, FIC General Counsel For the second Session in a row, a genetic testing bill related to life insurance has been filed by Sen. Bean (R). The bill filed for 2019 is the essentially same as the last iteration of the Senate genetic testing bill filed in 2018 by Sen. Bean. SB…
By: Katrina Callaway, FIC General Counsel On February 14, 2018, the Florida House of Representatives unanimously passed the life insurance genetic testing bill (HB 855) by a vote of 109-0. The vote sheet can be viewed here. At the outset of the floor session on February 14th, the House Speaker announced an agreement with the…
By: Katrina Callaway, FIC General Counsel SB 1106 prohibits life insurers, long-term care insurers, and disability insurers from cancelling, limiting, or denying coverage or establishing different premiums based on the genetic information. The bill also prohibits these insurers from using genetic information or requiring genetic testing for any insurance purpose. Life, disability, and long term…
By: Katrina Callaway, FIC General Counsel SB 1106 prohibits life insurers, long-term care insurers, and disability insurers from cancelling, limiting, or denying coverage or establishing different premiums based on the genetic information. The bill also prohibits these insurers from using genetic information or requiring genetic testing for any insurance purpose. The bill, which is…
By: Katrina Callaway, FIC General Counsel A bill opposed by the life insurance industry was unanimously approved by its last House committee on January 18, 2018. The bill was not amended in committee and will be heard on the floor when set by the Rules Committee. The committee spent almost an hour on the bill. …
By: Katrina Callaway, FIC General Counsel A bill that may be of concern to the life insurance industry was unanimously approved by its first House committee on January 10, 2018. The bill was not amended in committee and has one committee left. The bill, HB 855, prohibits life insurers or long-term care insurers from cancelling,…
By: Sam Miller, FIC ConsultantHB 1205 Viatical Settlement Contracts — by Stevenson896111 — by Stevenson063463 — by Stevenson The Florida House overwhelmingly approved legislation (HB 1205E1) on April 26 overruling the Florida Supreme Court’s Wells Fargo v. Pruco Life decision and giving life insurers five years, under certain circumstances, to contest STOLI policies. The companion…