FL S1568

Allows residential property insurers to renegotiate surplus notes issued before January 1, 2011 if they accelerate payment by at least 5 years, with potential exemption from premium-to-surplus ratio requirements.

Reduces the maximum consecutive years an insurer may use the same accountant for annual statements from 7 to 5 years, with a 5-year waiting period before reusing the same accountant or partner.

Increases the minimum surplus requirement for assuming insurers receiving reinsurance credit from $100 million to $250 million and specifies acceptable rating organizations including Standard & Poor's, Moody's, Fitch, A.M. Best, and Demotech.

Authorizes the Department of Financial Services to request appointment as ancillary receiver to obtain records necessary to adjudicate policyholders' covered claims and creates liability coverage under the State Risk Management Trust Fund for federal priority of claims law.

Terminates board members of the Florida Insurance Guaranty Association and Florida Workers' Compensation Insurance Guaranty Association who represent or are employed by insurers in receivership, effective upon entry of the receivership order.