PCI Surplus Lines Bulletin Outlines HB 853
May 7, 2009
The Property Casualty Insurers Association of America has distributed a comprehensive bulletin regarding Florida House Bill 853, which was passed by the Florida Legislature on May 1, 2009 to clarify the State’s regulation of its surplus lines insurance business.
Specifically, HB 853 provides that Chapter 627, Florida Statutes does not apply to surplus lines insurers unless specifically stated.
Heavily supported by the insurance industry, the bill withstood a significant challenge posed by the Trial Bar Association.
The overview, which includes a summary of HB 853’s provisions, is attached for your review.
Please contact Colodny Fass should you require further information regarding House Bill 853 or other surplus lines insurance matters.
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