Florida House of Representatives Economic Affairs Committee Report: February 8
Feb 9, 2012
The Florida House of Representatives Economic Affairs Committee (“Committee”) passed three insurance-related bills yesterday, February 8, 2012:
House Bill 1127 by State Representative Ben Albritton would eliminate the regular assessment of Citizens Property Insurance Corporation (“Citizens”) for its Personal and Commercial Lines Accounts, and would reduce the assessment amount for Citizens’ Coastal Account from six percent to two percent. HB 1127 would not change the amount of the emergency assessment, or its collection process.
There was little debate. State Representative Bryan Nelson offered two amendments to the bill, which were withdrawn. These amendments would have increased Citizens’ 10 percent rate increase cap by three percent for the purchase of private reinsurance and implemented the quota share agreement provisions currently in the law. The Committee passed HB 1127 by a vote of 9 to 5.
State Representative Daniel Davis presented House Bill 4169, which would repeal the five percent limit on profits for Florida workers’ compensation insurers. Insurance industry representatives and others from various business groups spoke in favor of the bill, which passed the Committee by a vote of 13 to 3.
The Committee also unanimously passed House Bill 4181 by State Representative Matt Caldwell, which would repeal the certification requirement for health care providers in Florida’s workers’ compensation system.
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