Florida House Insurance and Banking Subcommittee to Take Up Citizens Depopulation Bill; Uniform Home Grading Scale, Probable Maximum Loss Report Repeals Share Agenda with PIP and Money Services Fraud Prevention Reports
Oct 27, 2011
The Florida House of Representatives’ Insurance and Banking Subcommittee will take up several insurance-related bills at its scheduled November 2, 2011 meeting. To view the agenda, click here.
Along with the insurance-related bills listed below, Legislators will also consider reports on fraud prevention from the Florida Chief Financial Officer’s Money Services Business Workers’ Compensation Fraud Work Group and the Florida Insurance Consumer Advocate’s Personal Injury Protection Working Group, both of which are due to be published prior to the meeting.
HB 245 relating to Depopulation Programs of Citizens Property Insurance Corporation by State Representative Jim Boyd
HB 245 would provide 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 Property Insurance Corporation (“Citizens”). The bill also would provide certain exceptions, conditions and requirements relating to participation by surplus lines insurer in Citizens’ depopulation, take-out or keep-out programs. Should it become law, HB 245 would authorize information from underwriting files and confidential files to be released by Citizens to specified entities that are considering writing or underwriting risks insured by Citizens. In addition, HB 245 specifies that only Citizens’ transfer of policy file to an insurer, as opposed to the transfer of any file, would change a file’s public record status. Effective Date: July 1, 2012.
HB 4059 relating to Property and Casualty Insurance by State Representative Larry Metz
HB 4059 would repeal the requirement that the Florida Financial Services Commission (“FSC”) provide an annual report to the Florida Legislature consisting of specified data and analysis related to aggregate net probable maximum losses, financing options and potential assessments of Florida Hurricane Catastrophe Fund and Citizens. Effective Date: July 1, 2012.
HB 4061 relating to Uniform Home Grading Scale by State Representative Mack Bernard
HB 4061 would repeal provisions relating to the required adoption by the FSC of the Uniform Home Grading Scale to grade the ability of a home to withstand the wind load from certain tropical storms or hurricanes. Effective Date: July 1, 2012.
A Colodny Fass representative will attend the meeting and provide a report.
Should you have any questions for comments, please feel free to contact Colodny Fass.
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