FL S1900

Substantially rewrites section 628.461 to establish comprehensive requirements for acquiring 10 percent or more of voting securities in domestic stock insurers, requiring filing with the Commissioner of Insurance and approval before acquisition, with 30-day preacquisition notification periods and detailed disclosure requirements.

Expands the definition of "insurer" under acquisition rules to include prepaid limited health service organizations, health maintenance organizations, prepaid health clinics, continuing care providers, and multiple-employer welfare arrangements that were previously regulated separately.

Creates new sections 628.800-628.8014 establishing standards for insurance holding company systems, requiring registration of member insurers, annual enterprise risk reports, standards for affiliated transactions, supervisory college participation, and restrictions on extraordinary dividends exceeding 10 percent of surplus.

Modifies section 628.4615 to remove health maintenance organizations and related health entities from "specialty insurer" definition, streamlining those entities under the main acquisition rules in section 628.461 instead.

Establishes competitive standards for merger and acquisition review based on market share thresholds, with presumptions of competitive harm tied to insurer concentration levels, and authorizes penalties up to $50,000 for failure to file required acquisitions notifications.