FL S1428

Authorizes the Office of Insurance Regulation to expend funds for employee professional development, including professional dues, designations, and training courses related to insurance regulation.

Allows insurers to transfer commercial lines policies to another authorized insurer in the same group or holding company upon policy expiration, with the transfer treated as a renewal rather than cancellation or nonrenewal, requiring 45 days' notice with the transferred insurer's financial rating.

Exempts insurers with at least $200 million in surplus, or insurer groups with at least $400 million in surplus, from performing physical onsite premium audits for workers' compensation coverage, except when required by office order or policyholder request.

Policy transfer provisions do not apply to residential property insurance coverage, except for farmowners insurance and commercial general or property policies providing farm coverage.