FL H0677

Amends Section 629.271, Florida Statutes to authorize domestic reciprocal insurers to return unassigned funds to subscribers in addition to existing options for returning unused premiums and savings.

Allows domestic reciprocal insurers to distribute up to 10 percent of surplus to subscribers with distributions limited to 50 percent of net income from the previous calendar year, subject to prior written approval from the office.

Requires that any distribution of unassigned funds may not unfairly discriminate between classes of risks, policies, or subscribers, but may vary based on the experience of subscriber classes.

Takes effect July 1, 2015.