Insurance-Related Bills Presented to Governor Crist on May 18 and 19
May 19, 2009
Two insurance-related bills have been presented this week to Florida Governor Charlie Crist for his signature. Senate Bill 714 Relating to Condominiums was among the bills presented to Governor Crist on Monday, May 18, and requires the Governor’s action by June 2, 2009. House Bill 845 Relating to Self-Insurance Funds was presented today, May 19, and requires the Governor’s action by June 3.
SB 714 would correct several unintended consequences from language relating to insurance that passed in 2008, which requires condominium owners to purchase individual unit owner coverage, to include their association as a named insured and provides for other association rights. The bill would require that coverage for certain assessments include at least a minimum amount of loss assessment coverage.
HB 845 would revise the type of requirements for contingent liability policies, and also revise the definition of “self-insurance fund” under the Florida Workers’ Guaranty Association Act to exclude specified types of self-insurance funds.
After a bill is passed, it must be signed by the presiding officers of the House and Senate and then presented to the Governor. Once the bill is presented, the Governor has 15 days to either sign or veto the bill. If he does not act in 15 days, it becomes law automatically.
To see a complete list of the bills presented to Governor Crist on Monday, click here.
For additional information on Florida’s legislative process and terminology, click here.
Should you have any questions or comments, please contact Colodny Fass.
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