FL S1190

Increases surplus requirements for insurers applying for original certificates of authority, with property and casualty insurers needing $5 million or 10% of liabilities (whichever is greater), and domestic residential property insurers needing $15-50 million depending on subsidiary status.

Revises ongoing surplus maintenance requirements for existing insurers, establishing phased increases for life and health insurers authorized to issue health benefit plans, reaching $10 million by July 1, 2025, with authority to reduce requirements for limited business operations.

Expands definition of "life and health insurer" to include health maintenance organizations (HMOs) and prepaid limited health service organizations authorized in Florida and other jurisdictions, subjecting them to insurer solvency and capital requirements.

Changes annual reporting deadlines for HMOs and prepaid limited health service organizations to March 1 (from within 3 months of fiscal year end) and requires audited financial statements by June 1, subject to commission audit rules beginning December 31, 2015.

Excludes receivables from management services organizations from HMO assets when determining financial condition and increases examination expense limits for HMOs from $50,000 to $100,000 annually.