Final Versions of Major Homeowners Insurance Bills Passed During 2008 Regular Legislative Session

Final versions of the two major homeowners’ insurance bills passed during the Florida 2008 Regular Legislative Session are attached for your review. These versions incorporate the many amendments made to each bill, respectively.

CS/CS 3rd Eng. SB 2860 by the General Government Appropriations and Banking and Insurance Committees and Senators Jeff Atwater and Steve Geller, and co-sponsors, Senators Fasano; Garcia; Jones; Gaetz; and Wilson

Provides for an appropriation of state funds in exchange for surplus notes issued by residential property insurers under the Insurance Capital Build-Up Incentive Program. Requires insurers to commit to maintaining certain levels of surplus and reinsurance. Specifies an additional unfair claims settlement practice. Revises the factors the OIR must consider in reviewing a rate filing, etc.

 

CS/CS/2nd Eng. SB 2012 by the Health Policy and Banking and Insurance Committees and Senator Ted Deutch and co-sponsors, Senators Crist and Fasano

Revises provisions authorizing public housing authorities to form self-insurance funds. Provides that certain company employee adjusters and independent adjusters seeking reinstatement of a suspended license are not required to take an examination. Provides that an examination on workers’ compensation insurance or health insurance may not be required for public adjusters, etc.

Should you have any questions or comments, please do not hesitate to contact this office.

 

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