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FL S1630

Bill

Status

Introduced

1/8/2016

Primary Sponsor

Ethics and Elections

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Origin

Senate

2016 Regular Session

AI Summary

  • Consumer representatives appointed by the Governor to the Citizens Property Insurance Corporation board of governors may practice in professions required or permitted by law, under an exemption to conflict of interest provisions in s. 112.313(7)(b)

  • Licensed agents of the corporation must maintain an appointment with an insurer that is authorized and actively writing or renewing residential or commercial property coverage in Florida throughout their appointment with the corporation

  • The corporation may use the public hurricane loss-projection model in combination with private model results to calculate windstorm rates, rather than using the public model as a minimum benchmark

  • Underwriting and claims file information (name, address, risk location, rating information, loss history, policy type) may be released to entities seeking authorization as insurers, reinsurers, reinsurance brokers, rating organizations, and modeling companies for purposes of developing take-out or rating plans, but agents may not use such information for direct policyholder solicitation

  • The corporation's take-out program must be revised by January 1, 2017 to schedule up to 6 annual cycles for insurers to submit policy take-out requests, maintain lists of offering insurers for agents of record, and provide policyholders written notice of their options including premium comparisons and coverage differences

Legislative Description

Operations of the Citizens Property Insurance Corporation

Last Action

Laid on Table, companion bill(s) passed, see CS/CS/HB 931 (Ch. 2016-229)

3/8/2016

Committee Referrals

Appropriations2/17/2016
Ethics and Elections2/3/2016
Banking and Insurance1/14/2016

Full Bill Text

No bill text available