Reminder: FPCA Property Division Conference Call To Vote on Commercial Self-Insurance Funds Action

Reminder:   The FPCA Property Division is scheduled to meet via conference call on Tuesday, April 24, 2007 at 9 a.m. EST.

Along with a copy of HB 7031, which will be discussed and voted on during the meeting, also included are minutes from the April 20, 2007 FPCA Property Division meeting, as well as an agenda for tomorrow’s 9 a.m. meeting.

 

During its weekly conference call on Friday, April 20, 2007, the Property Division of the Florida Property and Casualty Association discussed an amendment regarding commercial self-insurance funds.

This amendment may have had the effect of reducing capacity in the Florida Hurricane Catastrophe Fund (FHCF) which, in turn, would adversely affect insurers’ reinsurance programs.

As originally filed, the bill did not address the ability of self-insurance funds to access the FHCF. Later, the bill was amended to specifically state that self-insurance funds could purchase reinsurance from the FHCF. The amendment was then clarified to state that self-insurance funds were included in both FHCF’s and Citizens’ assessment base, and that these types of self-insurance funds were not required to participate in the Self-Insurance Fund Guaranty Association.

The FPCA Property Division is scheduled to meet via conference call on Tuesday, April 24, 2007 at 9 a.m. EST to hold a formal vote on whether the association wants to take action with respect to defeating this amendment or any other proposed legislation on this issue.

The call in number is 1-800-369-1540 and the code is 49402#.

We have attached a copy of the amendment, HB 7031 for your review.

Should you have any comments or questions, please feel free to contact this office.