HB 1099 (2013) -  Citizens Property Insurance Corporation

by Albritton
Revises provisions relating to Florida Hurricane Catastrophe Fund; revises definition of "covered policy"; revises provisions relating to exchange of business between agent & insurer; applies exemption from certain requirements to corporation; revises requirements relating to quota share primary insurance agreements; requires corporation & authorized insurers to enter into excess of loss reinsurance agreements & quota share reinsurance agreements in certain circumstances; authorizes corporation's board of governors to limit corporation's participation; provides that if corporation is reinsurer, all forms & endorsements must be approved by OIR; prohibits corporation from sharing risk for certain damages; requires corporation & each insurer to report additional information to fund & revise procedures for determining whether risk is eligible for corporation; requires corporation to implement eligibility procedures & operational requirements for certain purposes which include clearinghouse for new applications.
Effective Date: July 1, 2013
Last Event: Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 1770 (Ch. 2013-60) on Friday, May 3, 2013 7:16 PM

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 1770 (Ch. 2013-60) Time: 05/03/2013 - 7:16 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 03/06/2013 - 10:31 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Regulatory Affairs Committee Time: 03/06/2013 - 10:31 AM Member: Committee: Regulatory Affairs Committee Version: __
Event: H Referred to Government Operations Appropriations Subcommittee Time: 03/06/2013 - 10:31 AM Member: Committee: Government Operations Appropriations Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 03/06/2013 - 10:31 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 03/05/2013 - 11:59 PM Member: Committee: Version: __
Event: H Filed Time: 02/27/2013 - 3:42 PM Member: Albritton Committee: Version: __