Citizens Property Insurance Surplus Lines Depopulation Bill (CS/SB 578) Bypasses Committee, Placed On Second Reading In Senate
Feb 14, 2012
CS/SB 578 by Senator Garrett Richter (R- Naples) relating to Depopulation Programs of Citizens Property Insurance Corporation, Inc. (“Citizens”) was withdrawn from the Senate Committee on Budget today, February 14, 2012 and placed on Second Reading in the Senate. The bill is now eligible for consideration by the full Senate.
SB 578 provides that eligible surplus lines insurers may participate, in the same manner and on the same terms as an authorized insurer, in depopulation, take-out, or keep-out programs relating to policies removed from Citizens.
A similar bill, CS/CS/HB 245 by State Representative Jim Boyd, passed the full House by a vote of 66 to 48 on February 3 and is presently in Senate Messages.
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