News & Updates


Legislature Revises Forms Certifications and Rate Exemptions

Legislature Revises Forms Certifications and Rate Exemptions

The legislature altered Florida’s form and rate filing statutes in SB 468.  Perhaps most significantly, the legislature specified that a forms certification process similar to the one currently in effect by OIR order will continue for commercial property and casualty insurance.  However, personal lines and workers’ compensation are specifically carved out of the statutory change and will be subject to the forms review and approval process.  The new statute is effective July 1, 2013, assuming the bill becomes law.

The same statute expands the lines of commercial insurance that are not subject to prior rate review and approval.  Newly exempted lines include medical malpractice insurance for facilities that are not hospitals, nursing homes or assisted living facilities, and medical malpractice insurance for health care practitioners who are not dentists, physicians, osteopathic physicians, chiropractic physicians, podiatric physicians, pharmacists or pharmacy technicians.

The bill also extends the exemption of medical malpractice from the Florida Hurricane Catastrophe Fund assessment base until June 1, 2016.  This provision also is set forth in other legislation passed in the 2013 session.