Capitol to Courthouse Daily Florida Insurance Report: Friday, March 4
Mar 4, 2011
To go directly to the section of your choice, click on a hyperlink below. Other hyperlinks to meeting information, bills and news are noted in bold type.
- Daily Florida Insurance-Related Events
- Daily Florida Insurance-Related Bills Filed for 2011
- Daily Insurance-Related News
Daily Florida Insurance-Related Events
- 9:00 a.m.–Citizens Property Insurance Corporation (“Citizens”) Actuarial and Underwriting Committee meeting; Teleconference: 877-865-3696. To view the meeting notice, click here.
- 11:00a.m.–Citizens Claims Committee meeting; Teleconference: 877-866-0039. To view the meeting notice, click here.
Daily Florida Insurance-Related Bills Filed for 2011
SB 1592 relating to Civil Remedies Against Insurers by Senator John Thrasher
SB 1592 would revise provisions of law relating to civil actions against insurers. The bill would revise the grounds for bringing an action based on an insurer’s failure to accept an offer to settle within policy limits. It also would provide that the insurer has an affirmative defense if a third-party claimant or the insured fails to cooperate with the insurer. Damages that are recoverable from an uninsured motorist carrier in a civil action would be revised and limited. Effective date: July 1, 2011
HB 1187 relating to Civil Remedies Against Insurers by State Representative Dennis Baxley
Identical to SB 1592, HB 1187 would revise provisions relating to civil actions against insurers. Effective Date: July 1, 2011
HB 1169 relating to Public Records/Insurance by State Representative Evan Jenne
HB 1169 would provide an exemption from public records requirements for notice of proposed divestiture in a domestic insurer provided to the Florida Insurance Commissioner pursuant to an acquisition of the domestic stock of an insurer. The bill specifies the duration of the exemption and also provides an exemption from public records requirements for the identity of a lender pursuant to a merger or other acquisition of control of the domestic stock of an insurer where the source of consideration is a loan made in the lender’s ordinary course of business, upon request of the lender. HB 1169 provides for the review and repeal of exemptions, as well as for a statement of public necessity. Effective date: on the same date that HB 1167 or similar legislation takes effect, if such legislation is adopted in the same legislative session or an extension thereof and becomes law
HB 1167 relating to Insurance by State Representative Evan Jenne
Linked to HB 1169, HB 1167 would amend and create provisions of law relating to the acquisition of controlling stock with respect to stock and mutual insurers. This would include prepaid limited health service organizations, health maintenance organizations, prepaid health clinics, continuing care providers and multiple-employer welfare arrangements within the definition of “insurer.” The bill provides that a person may not acquire the domestic stock of an insurer or controlling company unless such person has filed with the Florida Insurance Commissioner and sent to the insurer a statement containing specified information; and the offer, request, invitation, agreement or acquisition has been approved by the Commissioner. Effective date: July 1, 2011
SB 1568 relating to Insurer Insolvency by Senator Bill Montford
Similar to HB 1007, SB 1568 would provide for State Risk Management Trust Fund coverage for specified officers, employees, agents and other representatives of the Florida Department of Financial Services (“DFS”) for liability under specified federal laws relating to receiverships. Under the provisions of the bill, a covered claim for purposes of specified guaranty provisions would not include a claim rejected by another state’s guaranty fund or liquidation law on the basis that it constitutes a claim under a policy issued by an insolvent insurer which is within a deductible or self-insured retention. Effective date: upon becoming law
SB 1694 relating to Motor Vehicle Personal Injury Protection Insurance by Senator Garrett Richter
SB 1694 would provide that the circuit court has exclusive jurisdiction in actions involving challenges to arbitration decisions under the Florida Motor Vehicle No-Fault Law. The bill would require a claimant’s request about insurance coverage to be appropriately served upon the disclosing entity. It also would provide that an insurer that requests an examination under oath in a manner that is inconsistent with the policy is engaging in an unfair and deceptive trade practice. Effective date: upon becoming law
HB 1195 relating to Community Association by State Representative George R. Moraitis Jr.
HB 1195 would require insurance companies insuring condominium association property to provide notice to unit owners if insurance will be canceled or not renewed by the association. It would also authorize a majority of voting interests of the association to direct the board to obtain substitute coverage. The association board would also be authorized to install impact glass or other code-compliant windows under certain circumstances. Under certain circumstances as provided by HB 1195, a condominium association may not be deemed to be previous owner of condominium unit. Effective date: July 1, 2011
HB 1157 relating to Insurance by State Representative Evan Jenne
HB 1157 specifies that pt. II of ch. 501, F.S., also known as the “Deceptive and Unfair Trade Practice Act,” applies to business of insurance. The bill would provide that rate standards for medical malpractice insurance apply to separate affiliate of insurer and would require medical malpractice liability insurers to file a surcharge or discount schedule with the Florida Insurance Commissioner before applying certain rates or surcharges. HB 1157 would also require the Florida Office of Insurance Regulation to consider certain factors in determining an insurer’s rate base and require medical malpractice insurers to provide specified information when submitting a rate filing. Effective date: July 1, 2011
SB 1606 relating to Public Records/Title Insurance/Department of Financial Services by Senator Thad Altman
SB 1606 would provide an exemption from public records requirements for financial information, such as revenue, loss and expense data, which is supplied periodically by a licensed title insurance agency to the Florida Department of Financial Services (“DFS”) in order to assist the agency in analyzing title insurance premium rates, title search costs and the financial viability of the title insurance industry in the State. Requires that the information be supplied to the DFS by a specified date. Effective date: contingent
As legislators return to Tallahassee for the 2011 session, they are once again facing a sizable budget shortfall and difficult spending decisions.
On February 28, regulators took control of a property and casualty insurer, AequiCap Insurance Company of Fort Lauderdale, Florida, following the signing of an order of receivership for purposes of rehabilitation by the Second Judicial Circuit Court.
More Bermuda Reinsurers Agree To Florida Reduced Collateral Terms
Tokio Millennium Re Ltd. and Allied World Assurance Company are the seventh and eighth Bermuda-based reinsurers authorized to post reduced collateral requirements to operate in Florida.
Jury awards $7.7 million to owner of Naples money pit home
A Collier Circuit jury deliberated about two hours Thursday and awarded a Naples homeowner $7.71 million for damages his Gulf Shore Boulevard North mansion sustained during heavy rains in spring 2005 and during Hurricane Wilma.
Column: State Senator Alan Hays intent on helping insurance, development industries
The state legislative session starts next week, and your elected officials are working like crazy – but not necessarily for you.
Column: Brace for storm of property-insurance rate hikes despite what Rick Scott says
Another hurricane season has passed with nary a puff of wind, making it five years in a row now, and my property insurance has gone up $1,200 a year.
Florida wildfire season comes early
There’s this tendency, particularly among Florida newcomers, to think of wildfires as isolated disasters, not as a season.
A car slams on its brakes ahead of you, and you can’t stop before tapping its rear bumper.
Rail funding decision to come today
Challenge to Governor Scott’s rejection of high-speed rail in court’s hands
With two state senators charging that Gov. Rick Scott overstepped his executive authority by killing Florida’s high-speed rail line without consulting the Legislature, Scott’s attorney took a strong stance Thursday in oral arguments before the Florida Supreme Court.
Governor Scott Puts Fees on Public Records Requests
Florida Governor Rick Scott is imposing fees on public records request to pay for staff time and the cost of making copies.
US drug czar: Florida drug database may go online
White House drug czar Gil Kerlikowske said on Thursday that he is encouraged that Florida may move forward with a planned statewide database for tracking prescription drugs.
Florida CFO rejects bills for furniture, photos at ‘Taj Mahal’ courthouse
Florida’s taxpayers will not pay all of the bills for furnishing the posh new 1st District Court of Appeal building, Chief Financial Officer Jeff Atwater said.
Naples lawmaker may drop bid to require volunteer work by people on unemployment
It takes work to find work. That was state Rep. Kathleen Passidomo’s thinking when she filed a bill in the Florida House of Representatives that would require people receiving unemployment benefits to perform volunteer work with a nonprofit organization.
Blog: Study finds telecom reform could benefit Florida’s economy
Citizens for a Digital Future hosted a press conference today during which Hance Haney, Director and Senior Fellow of the Technology & Democracy Project at the Discovery Institute, released his study Reform Florida Telecom Law.
Florida Senator John Thrasher discusses lawmaker’s unenviable to-do list
He will play a key role in the State Legislature’s tasks
Facing the prospect of having to revamp the Medicaid system, push education reforms opposed by educators, redraw the state’s political lines and fill a nearly $4 billion budget gap, the job of Florida lawmaker may soon find itself next to elephant scooper on the list of the world’s least enviable professions.
Florida’s low corporate taxes not its biggest draw, survey finds
When Italian bottle-cap maker Pelliconi Group looked at sites for its first U.S. factory, corporate-tax rates weren’t top of mind.
Signs Point To Illinois Insurance Director McRaith As Federal Insurance Office Head
Signs are emerging that Michael McRaith, Illinois insurance director, will soon be named the first director of the Federal Insurance Office.
GOP to relaunch flood insurance overhaul
Draft legislation to overhaul the U.S. National Flood Insurance Program will be unveiled next week, said the Republican chairman of a congressional insurance oversight panel on Thursday.
Gibson Guitar Company sues insurers to force full flood coverage
Nashville-based Gibson Guitar has filed suit against two insurers, claiming the companies failed to fully cover flood damage at the Massman Drive production plant where Gibson makes its world-famous Les Paul electric guitars.
New Louisiana Online Auto, Homeowners Rate Guides Available
Louisiana Commissioner of Insurance Jim Donelon announced that the 2010 online auto and homeowners rate comparison guides are now available for viewing on the Department of Insurance Web site at www.ldi.la.gov.
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