HB 1477 (2023) -  Insurance

by Driskell (CO-SPONSORS) Arrington; Bracy Davis; Cassel; Cross; Daley; Eskamani; Gantt; Gottlieb; Harris; Hinson; Hunschofsky; Joseph; Nixon; Rayner; Robinson, F.; Skidmore; Valdés; Waldron; Woodson
Creates Property Insurance Commission; provides for election of Commissioner of Insurance Regulation; revises homeowners' eligibility criteria for mitigation grants; requires interests earned on insurance proceeds received by mortgagees & assignees to be paid to insureds; prohibits property insurers from claiming insolvency under certain circumstances; authorizes persons that engage in property insurance activities in other states to engage in insurance activities in this state only under certain circumstances; requires property insurers to cap premiums or to create sliding fee scales for premium rates; prohibits property insurers from using certain defenses as claims denials; revises requirements for risk assignment agreements; requires OPPAGA to conduct study of effectiveness of property insurance mediation program.
Effective Date: July 1, 2023
Last Event: Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/HB 881 (Ch. 2023-176) on Friday, May 5, 2023 11:00 AM

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/HB 881 (Ch. 2023-176) Time: 05/05/2023 - 11:00 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 03/09/2023 - 7:24 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Commerce Committee Time: 03/09/2023 - 7:24 PM Member: Committee: Commerce Committee Version: __
Event: H Referred to State Administration & Technology Appropriations Subcommittee Time: 03/09/2023 - 7:24 PM Member: Committee: State Administration & Technology Appropriations Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 03/09/2023 - 7:24 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 03/07/2023 - 10:01 PM Member: Committee: Version: __
Event: H Filed Time: 03/03/2023 - 4:54 PM Member: Driskell Committee: Version: __