FPCA Homeowners Division Member Review and Feedback Needed: Amendment to Senate Omnibus Property Insurance Bill Would Increase Surplus Action Level Trigger
Apr 27, 2010
FPCA Homeowners Division Members:
Review and feedback is needed immediately on a strike-everything amendment filed to CS/CS/1st Eng./SB 2044 late yesterday by State Representative Bill Proctor in advance of the bill’s scheduled hearing in the Florida House of Representatives today, April 27, 2010. A copy of Representative Proctor’s amendment is attached for review.
One of the significant differences between this version and a previous draft of this amendment is that the “surplus action level” trigger equates to a 20 percent decline in surplus, rather than 15 percent. The provisions of the amendment also extend the prohibition on use and file rates for six months until July 1, 2011.
- Please send comments and any other feedback to Katie Webb (kwebb@cftlaw.com) or Fred Karlinsky (fkarlinsky@cftlaw.com) at your earliest convenience.
Both the Senate and House versions (CS/CS/1st Eng./SB 2044 and CS/CS/1st Eng./HB 447) of the omnibus property insurance package are on today’s House agenda.
