Florida Insurance Council - Covering Florida Since 1962
By: Katrina Callaway, FIC General Counsel The House Judiciary Committee adopted a committee bill (PCB JDC 20-03) on contingency risk multipliers during its meeting on January 30, 2020. The original committee bill proposed was an outright ban on the use of contingency risk multipliers in all cases. However, the committee adopted a strike all amendment…
By: Katrina Callaway, FIC General Counsel The OIR backed credit for reinsurance bill that incorporates substantive provisions from the 2017 Covered Agreement between the U.S. and the European Union (EU) passed committees in the House and Senate on January 28, 2020. Neither bill was amended and neither had opposition. The bills enact the 2019…
By: Katrina Callaway, FIC General Counsel On January 28, 2020, the House bill (HB 1193) deregulating numerous professions and occupations was approved by its second committee of reference. The bill includes changes to the membership of the Florida Building Commission which may be important to the property insurance industry. As part of the proposed…
By: Katrina Callaway, FIC General Counsel SB 1154 is a comprehensive condo association bill that contains one insurance provision. That provision prohibits a condo unit owner’s property policy from allowing the unit owner to subrogate against the condo association if the association’s policy does not allow the association to subrogate against the unit owner. …
By: Katrina Callaway, FIC General Counsel HB 623, is a comprehensive condo association bill that contains one insurance provision. That provision prohibits a condo unit owner’s property policy from allowing the unit owner to subrogate against the condo association if the association’s policy does not allow the association to subrogate against the unit owner. The…
By: Katrina Callaway, FIC General Counsel On January 21, 2020, House and Senate committees approved bills deregulating numerous professions and occupations. The bills include changes to the membership of the Florida Building Commission which may be important to the property insurance industry. As part of the proposed deregulation, the Florida Building Commission membership is…
By: Katrina Callaway, FIC General Counsel A priority issue for the FIC Property Insurance Committee started moving in the Senate on January 21, 2020 when the Senate Banking and Insurance Committee approved SB 914 with a party line vote of 5-3. The originally filed bill repealed the contingency risk multiplier used in property insurance…
By: Katrina Callaway, FIC General Counsel Bills increasing the FIGA coverage limit and the FIGA emergency assessment maximum for condominium association and homeowners’ association FIGA claims started moving in the House and Senate on January 15, 2020 when they passed their first House and Senate committees. The bills were supported by various condo association trade…
By: Katrina Callaway, FIC General Counsel On January 10, 2020, Sen. Gainer (R-Panama City) filed a bill proposing significant changes to property insurance law. He filed the bill presumably as a result of his constituent’s experience with Hurricane Michael claims. There is no House companion bill yet. The primary focus of SB 1760 is surplus…