Bill Filed for 2012 Florida Regular Legislative Session Would Repeal Annual Financial Services Commission Legislative Report by Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation on Probable Maximum Losses and Financing Options
Oct 25, 2011
A bill has been filed for consideration during the 2012 Florida Regular Legislative Session that would repeal an annual Financial Services Commission (“FSC”) reporting requirement pertaining to the Florida Hurricane Catastrophe Fund (“FHCF”) and Citizens Property Insurance Corporation (“Citizens”).
HB 4059, sponsored by State Representative Larry Metz, would repeal s. 627.3519, F.S., under which the FSC must provide an annual report to the Legislature on the aggregate net probable maximum losses, financing options and potential assessments of the FHCF and Citizens.
HB 4059 was filed on September 28, 2011, and referred to the House Insurance and Banking Subcommittee on October 17. Should it become a law, it would be effective July 1, 2012.
To view the bill text, click here.
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