Senate Banking and Insurance Committee Meeting 2/13/2006

The Senate plans to release its Proposed Committee Bill regarding No-Fault on Monday, February 13, 2006. This bill is based on the recommendations contained in the Senate Interim Report on No-Fault. The bill will likely be introduced at the Senate Banking & Insurance meeting on Tuesday, February 14, 2006, but then tabled for a discussion at a later committee meeting. We will distribute a copy of the Proposed Committee Bill upon receipt.

Additionally, last week the Senate Banking & Insurance Committee favorably reported three bills from its committee. Included in those bills was Senate Bill 108, which will require motor vehicle repair shops to carry $300,000.00 of liability insurance. SB 108 is now on the Senate Calendar. The House companion bill, HB 365, will next be heard by the House Insurance Committee. HB 365 has not been place on the House Insurance Committee agenda at this time.

Senate Bill 764, which prohibits a life insurance company from refusing to insure, refusing to continue to insure, limiting the amount, extent, or kind of coverage available to an individual, or charging an individual a different rate for the same coverage solely for reasons associated with an applicant�s or insured� past or future lawful travel experiences, was temporarily postponed so that interested parties could continue to work on compromise language. The bill is expected to be heard again on Wednesday, February 15, 2006.

Finally the Banking and Insurance Committee heard a report from the Florida Hurricane Catastrophe Fund (FHCF), in which the FHCF stated its expected losses from the 2004 and 2005 hurricane season. You may find a copy of the Committee packet that includes the FHCF report at the following link: http://www.flsenate.gov/Committees/index.cfm?Mode=Meeting%20Packets&Submenu=3&Tab=committees

We will continue to monitor developments and provide updates accordingly. Please contact this office with any questions or concerns.

Regards,

Katherine A. Scott