Insurance Legislative Session Action: Thursday, May 3

On Thursday, May 03, 2007, the Legislature spent a considerable amount of time debating and passing the 2007 budget.

The budget is the only bill that the Florida Legislature is required to pass every year.

Also, pending insurance issues remain outstanding, despite today’s developments.

Below is an update on these insurance-related activities:

 

Property Insurance “Glitch Bill” (SB 1866)

After debating the “Glitch Bill” (SB 1866) at length on Wednesday, May 2, 2007, the Senate took up the House version (HB 7077) and adopted their amendments from yesterday onto the House Bill and passed it 39-0. The “Glitch Bill” now goes back to the House for its consideration.

If the House concurs with the Senate and passes the bill, then it will be available for the Governor’s signature. The bill contains the same provisions that were outlined in yesterday’s Session update

 

Hurricane Mitigation (SB 1864)

The House passed the “Hurricane Mitigation Bill” (SB 1864) 90-28. The bill passed the Senate yesterday and is now available for the Governor’s signature.

This bill requires the Office of Insurance Regulation to conduct a wind-loss mitigation study. Further, the bill provides intent language to inspect 400,000 homes and provide grants for 35,000 homes. Also, this bill redesignates the Florida Comprehensive Hurricane Damage Mitigation Program as the “My Safe Florida Home Program”; revises criteria & requirements for wind certification & hurricane mitigation inspections; requires the Florida Department of Financial Services (DFS) to transfer certain appropriated funds to Volunteer Florida Foundation, Inc.; requires DFS to develop no-interest loan program; and creates the Florida Catastrophic Storm Risk Management Center of Excellence at Florida State University.

 

Florida Automobile No-Fault/PIP (SB 1880)

For the second consecutive day, automobile no-fault legislation was not considered in the House.

However, several amendments were filed in addition to the amendments that were filed yesterday.

The new amendments include:

• Adding language and funding for fighting fraud;
• Providing that Florida’s no-fault/PIP statutes will sunset on October 1, 2008; and
• Providing that “usual and customary” should be considered when determining what are “reasonable” charges by hospitals.

It is still unclear whether a no-fault/PIP bill will pass this Session. If nothing is passed, then the existing no-fault/PIP statutes will sunset in October, 2007 and no longer be Florida law.

 

Finally, we have attached summaries of bills that passed the House, Senate and both Chambers (MS Word and HTML format enclosed).

Please feel free to contact this office regarding any of the above matters.