HB 4169 Summary

• Removes workers' compensation and employer's liability insurance from Florida's excessive profits prohibition in section 627.215, allowing insurers writing these lines to retain profits without refunding excess earnings to policyholders.

• Retains excessive profits restrictions on commercial property, commercial casualty, and commercial umbrella liability insurance, which continue to require refunds when underwriting gains exceed anticipated profit thresholds by 5 percent of earned premiums.

• Updates section 628.6017 to conform cross-references following the removal of workers' compensation and employer's liability insurance from excessive profits requirements.

• Effective date is July 1, 2012.