Florida Governor Rick Scott Signs Insurance-Related Bills Into Law Today–June 13, 2014

 

Florida Governor Rick Scott signed 94 bills into law today, June 13, 2014, including the following bills relating to insurance:

HB 271 by Representative Cummings, a bill that modernizes the process surrounding stop work orders under workers’ compensation insurance and changes the methodology for calculating the assessments for the Special Disability Trust Fund.

SB 490 by Senator Garcia, relating to motor vehicle insurance liability policy requirements.

SB 506 by the Senate Banking and Insurance Committee, which extends an existing public records exemption for the Florida Insurance Guaranty Association. 

SB 542 by Senator Brandes and its corresponding public records bill, SB 1262.  SB 542 creates new rating and policy form options for carriers interested in offering private market flood insurance policies.

HB 633 by Representative Ingram, a bill that makes changes to streamline insurance agency licenses and to better align the regulation of insurance agencies in Florida with other states.

SB 708 by Senator Bean, the Chief Financial Officer/Insurance Consumer Advocate insurance claims bill.

HB 785 by Representative Albritton, which allows the retrospective rating of certain workers’ compensation insurance policies and specifies that medical foods are not reimbursable under workers’ compensation insurance.

HB 1089 by Representative Raschein, a bill that delays the ban on Citizens Property Insurance Corporation (“Citizens”) coverage for buildings under construction within the coastal construction zone. 

SB 1308 by Senator Simmons, which revises provisions within the Insurance Code relating to solvency requirements and regulatory oversight of insurers by the Office of Insurance Regulation (“OIR”), incorporating provisions of model acts of the National Association of Insurance Commissioners and additional recommendations of the OIR.  The corresponding public records bill, SB 1300, also was signed by Governor Scott today.

SB 1344 by Senator Braynon, which revises the membership of the boards of the Medical Malpractice Joint Underwriting Association, the Florida Birth-Related Neurological Injury Compensation Association, and the Florida Workers’ Compensation Guaranty Association.  The bill also modernizes regulatory procedures related to third-party administrators and allows insurers to electronically transfer unearned premium to a policyholder who cancels a motor vehicle policy.

SB 1672 by Senator Simmons, a bill that prohibits public adjusters from receiving referral fees or accepting a power of attorney from policyholders that would allow the public adjuster to choose a vendor; requires all Citizens bid disputes to be handled in administrative court; requires Citizens to stop writing new commercial multi-peril policies in the coastal account, but allows Citizens to offer commercial wind-only policies and x-wind policies; requires Citizens to provide a report detailing its claims paying and bonding capacity for the next 12 months, and cash balance as of December 31; and prohibits contractors from waiving or rebating insurance deductibles.

 

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