Florida Senate General Government Appropriations Subcommittee Report: January 26
Jan 26, 2012
Today, January 26, 2012, the Senate General Government Appropriations Subcommittee (“Subcommittee”) met to hear several insurance-related bills.
SB 1346 relating to Citizens Property Insurance Corporation (“Citizens”) by Senator Steve Oelrich, which would reduces Citizen’s assessment authority, passed the Subcommittee. Representatives of the Florida Association of Realtors, the Heartland Institute, Citizens officials, the Florida Association of Insurance Agents and the Florida Chamber of Commerce all spoke in support of the bill.
SB 1220 by Senator Rene Garcia would repeal provisions of law requiring the Board of the Florida Health Insurance Program, inasmuch as it was never implemented. The Subcommittee unanimously passed the bill.
SB 1094 by Senator Alan Hays would change the penalty for failure to procure workers’ compensation insurance. The bill would shortens the period of time the Florida Department of Financial Services (“DFS”) would have to retrospectively to search for compliance and would increase the penalty from 1.5 times the amount of premiums that should have been paid to 2 times the amount of premiums that should have been paid.
During discussion on SB 1094, Senator Jack Latvala was concerned that the reduced time period for investigation would reduce penalties for failure to obtain workers’ compensations insurance, which he did not believe was appropriate. Speaking on behalf of DFS, Ashley Mayer explained that there has been a desire to speed up the process of investigating workers’ compensation requirements, and the increase of the multiplier will hopefully offset any fiscal impact to the Workers’ Compensation Administrative Trust Fund.
Due to concerns with SB 1094, Senator Hays asked that the bill be temporarily postponed.
To view the Subcommittee meeting packet, click here.
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