Omnibus Bill Advances Through House, Goes to Senate
The so-called omnibus bill (HB 635) has passed the House of Representatives by a 100-17 margin and has been referred to the Florida Senate. The bill addresses a wide range of insurance matters, consisting primarily of issues that generally are thought not to be controversial. The range of issues covered by the bill includes:
Extending the Florida Hurricane Catastrophe Fund exemption for medical malpractice insurance through May 31, 2016;
Allowing proof of auto insurance to be provided electronically;
Providing for the conversation of agency “registrations” under current law to agency licenses and providing for agency licensing going forward;
Allowing third party administrators to file financial reports on a fiscal year basis;
Allowing insurers to use a straight average of approved models in ratemaking;
Providing a uniform 120-day nonrenewal notice requirement for personal residential policies;
Allowing for electronic delivery of personal lines policies with the consent of the insured.
The bill contains numerous helpful clarifications, clean-ups and changes. The Senate has been working on its own omnibus package, and now can continue moving forward with its package or take up the House bill.