House Passes SB 2860; Insurance Legislative Bill Action–Day 58/April 30

An updated chart listing insurance-related bill activity for Wednesday, April 30, Day 58 of Florida’s 2008 Regular Legislative Session is attached for your review as well as available via www.cftlaw.com weblink by clicking here.

 

LATE BREAKING UPDATES

 

SB 2012

After passing the Senate on April 3, SB 2012 was read a third time and passed unanimously by the House today.  The following amendments were adopted onto the bill: 003745, 320751, 758247; 794475, 824245, 916039, 961399, 988445, 389549); one amendment was withdrawn (927839).  SB 2012 will now be returned to the Senate for re-consideration.

 

SB 2860

The House passed Senate Bill 2860 after more than two hours of discussion and debate.  The third substitute amendment, bar code 12873, was discussed and adopted. To view a summary of amendment 12873, click here.

Representatives Reagan, Ross and Brown explained SB 2860 and answered several questions from the House Members.  Following the discussion, amendments were considered and the following amendments adopted: 

• Amendment 491545 (Ross) Adopted on 2nd Reading 
• Amendment 31241 (Ross) Adopted on 2nd Reading 
• Amendment 774349 (Seiler) Adopted on 2nd Reading 
• Amendment 439287 (Ross) Replaced by Substitute Amendment 
• Amendment 128731 (Ross) Adopted as Amended   

Among the provisions that passed and failed:

Passed 

• An amendment to change the provision regarding failure to pay undisputed claims to include “impossibilty of performance”
• An amendment to clarify transfer of funds from Citizens
• Amendment to change the name of the act to “Homeowner’s Bill of Rights”

Failed

• An amendment to freeze Citizens Rates until 2009
• An amendment to require OIR to conduct a market analysis study of property insurance lines to achieve a minimum 25 percent rate reduction
• An amendment requiring property insurance premium refunds to policyholders when policies are cancelled without good cause

A late-filed amendment to amend a market conduct provision was withdrawn.

Following brief member debate, HB 2860 passed the House 117-0.  The bill, as amended, will now go to the Senate for consideration.

 

HB 1001

CS/HB 1001 passed the House today, April 30, 2008, on third reading by 111 yeas and 2 Nays.  The two “Nay” votes were Representatives Paige Kreegel and Susan Bucher. 

An amendment by Representative Richter, which had been filed the day before, was withdrawn prior to passage.  The withdrawn amendment authorized insurers to file a rating plan that aggregates payrolls for workers’ compensation under an owner-controlled insurance program for certain purposes.

CS/HB 1001 – relating to Commercial Property Insurance by Jobs & Entrepreneurship Council and Representative Garrett Richter, along with co-sponsors Representative Hays; Murzin; Williams and Zapata.  Defines terms “assessable commercial property insurance” and “nonassessable commercial property insurance”; provides rate standards for nonassessable commercial property insurance; provides that nonassessable commercial property insurance is not subject to determination that rate is excessive or unfairly discriminatory; excludes nonassessable commercial property insurance from definition of “subject lines of business”; specifies that insurers issuing nonassessable commercial property insurance policies are not assessable for portions of assessments from which such policies are exempt; authorizes insurers offering assessable commercial property insurance policies to offer potential insureds nonassessable commercial property insurance policies; authorizes owners of commercial property to purchase nonassessable commercial property insurance policies for that property; requires application for nonassessable commercial property policy to contain specified disclaimer; requires declarations page of nonassessable commercial property policy to contain specified disclaimer.  Effective Date: July 1, 2008  

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For easy reference and accessibility, the attached chart organizes and tracks bill activity using the following subject classifications:

•Commercial Property
•Residential Property
•Agents, Appraisers & Adjusters
•Motor Vehicle Insurance
•Employee Leasing Companies
•Group Self-Insurance Funds
•Medical Malpractice
•Motor Vehicle Warranty Associations
•Title Insurance
•Workers’ Compensation

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

 

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