FL S1344

Revises insurance administrator application requirements to include individuals employed or retained by the administrator and specifies that contracts must relate to services provided to insurers or persons using the administrator's services.

Allows an insurer or its designee to provide coverage information to an administrator and authorizes insurers to contract with qualified third parties to conduct reviews of administrator operations.

Requires written agreements between administrators and insurers that specify rights, duties, and obligations; requires administrators to furnish fiduciary account records to insurers or designees; and allows designees to authorize claim payments.

Changes financial statement filing deadlines for authorized administrators from specific calendar dates to 3 months after the end of the administrator's fiscal year for regular statements and 5 months for audited statements.

Updates insurance industry board appointment recommendations to reflect current insurance associations: Property Casualty Insurers Association of America, Florida Insurance Council, and American Congress of Obstetricians and Gynecologists, District XII.

Allows electronic transfer of unearned premiums in motor vehicle insurance cancellations and adds a Governor-appointed position with commercial insurance experience to the Florida Workers' Compensation Insurance Guaranty Association board.