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FL H1127
Bill
Status
Engrossed
2/24/2012
Primary Sponsor
Michael Weinstein
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AI Summary
- Reduces the coastal account deficit recovery threshold from 6 percent to 2 percent through regular assessments, with remaining deficits recovered through emergency assessments
- Requires the board of governors to determine a projected deficit exists before levying a Citizens policyholder surcharge (formerly "market equalization surcharge")
- Mandates limited apportionment companies begin collecting regular assessments within 90 days and pay in full within 15 months after assessment is levied
- Requires the Office of Insurance Regulation to notify assessable insurers and the Florida Surplus Lines Service Office of emergency assessment collection dates with at least 90 days' notice
- Authorizes the Office of Insurance Regulation to assist Citizens Property Insurance Corporation in collecting assessments and replaces terminology from "market equalization surcharge" to "policyholder surcharge" throughout the statute
Legislative Description
Citizens Property Insurance Corporation
Last Action
Ordered enrolled -HJ 1715
3/9/2012
Committee Referrals
Economic Affairs2/1/2012
Government Operations Appropriations Subcommittee1/25/2012
Insurance And Banking Subcommittee1/9/2012
Full Bill Text
No bill text available