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FL S0516
Bill
AI Summary
- Amends the definition of "motor vehicle liability policy" in Florida law (s. 324.021, F.S.) to allow policies issued by qualifying risk retention groups to satisfy financial responsibility requirements
- Permits eligible surplus lines insurers rated "A" or higher by A.M. Best Company to provide coverage meeting financial responsibility requirements specifically for commercial motor vehicles
- Defines "risk retention group" as one operating under s. 627.943 or s. 627.944, rated "A" or higher for financial strength and "VIII" or higher for financial size by A.M. Best, and limited to providing commercial coverage for vehicles used in public and private construction and infrastructure projects
- Effective date is July 1, 2023
Legislative Description
Motor Vehicle Liability Policies
Last Action
Died on Calendar
5/5/2023
Committee Referrals
Rules4/13/2023
Appropriations Subcommittee on Criminal and Civil Justice3/24/2023
Full Bill Text
No bill text available