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FL H0505
Bill
Status
Introduced
1/24/2023
Primary Sponsor
Commerce Committee
Click for details
AI Summary
- Liveries must carry insurance of at least $500,000 per person and $1 million per event, and must either insure renters directly or offer renters the opportunity to purchase coverage; renters who decline must sign a written acknowledgment of refusal
- Insurers may file personal lines residential property insurance rating plans with the Office of Insurance Regulation that provide premium discounts or credits based on windstorm mitigation construction standards developed by independent nonprofit scientific research organizations
- Advance written notice for automatic bank withdrawal premium increases is reduced from 15 days to 10 days, and notice is only required when the increase exceeds $10
- Personal lines insurance policyholders may affirmatively elect electronic delivery of policy documents (including policies, endorsements, and notices) in lieu of mail; electronic delivery is also extended to individual and group health insurance policies, HMO contracts, and prepaid limited health service contracts
- Foreign pure captive insurance companies organized under U.S. jurisdiction law as of January 1, 2023, may issue environmental liability and underground storage tank financial responsibility policies to parent or affiliated companies in Florida after providing specified documentation to the Office of Insurance Regulation
Legislative Description
Insurance
Last Action
Laid on Table; companion bill(s) passed, see CS/CS/CS/SB 418 (Ch. 2023-217)
5/1/2023
Committee Referrals
Commerce Committee3/21/2023
State Administration & Technology Appropriations Subcommittee3/9/2023
Insurance And Banking Subcommittee2/1/2023
Full Bill Text
No bill text available