FL H1167

Amends section 628.461 to substantially rewrite acquisition rules for domestic stock insurers and controlling companies, expanding the definition of "insurer" to include prepaid limited health service organizations, HMOs, prepaid health clinics, continuing care providers, and multiple-employer welfare arrangements.

Requires persons acquiring 10 percent or more of voting securities to file detailed statements with the Commissioner of Insurance and obtain approval before acquisition; establishes a 30-day preacquisition notification period and allows the Commissioner to require additional information.

Establishes competitive standards for acquisitions with specific market share thresholds that create presumptions of competitive violations; sets forth approval criteria including financial condition, management competence, and public interest considerations.

Removes prepaid limited health service organizations, HMOs, prepaid health clinics, continuing care providers, and multiple-employer welfare arrangements from the definition of "specialty insurer" and simplifies their acquisition procedures under section 628.4615.

Creates new sections 628.800-628.8014 establishing registration requirements for insurance holding company systems, standards for affiliated transactions, supervisory college participation authority, and penalties for violations ranging up to $1 million for insurers and $500,000 for individuals.