Florida Insurance Council - Covering Florida Since 1962
By: Sam Miller, FIC Consultant HB 1421 Property Insurance Assignment Agreements — by Grant (J)Amendments Filed 702957 [PDF] Jenne(Information from FIC lobbyist Greenberg Traurig was used in this report) The Florida House rejected April 25 a one-year rate freeze on homeowners insurance rates and a 6.5 percent rate rollback next year as it prepared to…
By: Katrina Callaway, FIC General Counsel The House flood insurance bill (HB 813 ) passed its last committee, House Commerce, on April 19, 2017 with one amendment. The bill will now be heard on the House floor when set by the Rules Committee. The Senate companion, SB 420, also passed its last committee hearing on…
By: Greenberg Traurig, FIC Lobbyist House Commerce approved a proposed committee bill for HB 1421 by Rep. Jamie Grant (R-Tampa) and Rep. Rene Plasencia (R-Titusville) on Wednesday. The measure was approved on a vote of 21 to 8 with Democrats voting against it. Rep. Richard Stark (D-Weston) was the lone Democrat casting a favorable vote.…
By: Sam Miller, FIC Consultant A bill sought by Nationwide Insurance Group and others to make it easier to transfer homeowners policies to an affiliated company was approved 38-0 by the Florida Senate April 19 and will soon go to Governor Rick Scott. The bill (CS/CS/HB 805) had cleared the House 113-0 on March 30.…
By: Sam Miller, FIC Consultant SB 812 Insurance Policy Transfers — by PerryHB 805 Insurance Policy Transfers — by Ingoglia The Florida Senate is posed to send to Governor Rick Scott the bill making it easier for insurers to transfer homeowners policies within the same group and shut down post-Hurricane Andrew Florida “pup” companies. The…
By: Katrina Callaway, FIC General Counsel On April 17, 2017, the House Commerce Committee released a proposed committee substitute to the House AOB bill, HB 1421. The proposed committee substitute will replace the current version of the AOB bill. The Committee will vote on the committee substitute at its meeting on April 19, 2017. The…
By: Katrina Callaway, FIC General Counsel Two Senate construction related bills picked up the same building code amendment in Senate Community Affairs Committee on April 17, 2017. SB 1372 initially dealt with electrical and alarm system contracting, but was amended (amendment #587522 PDF) to add the building code adoption provisions outlined below. SB 1312 initially…
By: Katrina Callaway, FIC General Counsel Entities allowed to form a public housing authority self-insurance fund (SIF) are expanded under SB 850 approved by the Senate Community Affairs Committee on April 17, 2017. The bill was not amended. Under current law, only two or more public housing authorities may form a public housing SIF. The…
By: Greenberg Traurig Yesterday, the Florida Cabinet State Board of Administration (“SBA”) unanimously approved the 2017-2018 Florida Hurricane Catastrophe Fund (“CAT Fund”) Reimbursement Premium Formula. The SBA also adopted a proposed rule for Rule 19-8.028, F.A.C., Reimbursement Premium Formula (the “Rule”), which implements the formula. The formula follows statutory criteria that has been in place…
By: Sam Miller, FIC Consultant A House-passed bill making it easier to transfer homeowners policies within the same insurance group will be going to the full Senate soon. The bill (CS/SB 812) was approved by its last committee of reference, the Senate Rules Committee, April 6. It will go to the full Senate at the…