News & Updates

Florida Senate

Your Population Program is Better Than Your Depopulation Program

Your Population Program is Better Than Your Depopulation Program

As the 2013 legislative session approaches, the respective insurance committees of the Florida Senate and House of Representatives are beginning to address issues related to Citizens Property Insurance Corporation.  Citizens continues to take on 8000 new policies a week, and notwithstanding substantial depopulation activity late this year its policy count will drift back up as […]

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Cat Fund Right-Sizing Supporters Vow to Bring It Back

Cat Fund Right-Sizing Supporters Vow to Bring It Back

The key Senator and Representative who promoted the Florida Hurricane Catastrophe Fund (FHCF) right-sizing proposal expressed disappointment that the bills did not receive more attention in the recently concluded session.  At least in the case of those who are eligible to return to the legislature next year, they vow to keep pushing for the reform. […]

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Workers Comp Excess Profits Law Slated for Rescission

Workers Comp Excess Profits Law Slated for Rescission

The legislature passed a bill (HB 941) that included a provision eliminating the excess profits calculation for workers’ compensation and employer’s liability insurance.  The excess profits provision, currently located at section 627.215, Florida Statutes, requires insurers to report their premiums, losses and expenses in the affected lines of business by July 1 of each year.  […]

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Cat Fund Revisions Fall Short

Cat Fund Revisions Fall Short

The Florida legislature did not adopt proposed changes to the size of the Florida Hurricane Catastrophe Fund during the 2012 session.  Jack Nicholson of the FHCF developed a proposal he referred to as “right-sizing” the cat fund to ensure it has access to enough resources to pay promised reimbursements without regard to poor global market […]

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Reform for PIP Squeaks Through on Final Day of Session

Reform for PIP Squeaks Through on Final Day of Session

After intense debate throughout the 2012 legislative session, the Florida House of Representatives and Senate reached a compromise on reforms for Florida’s Personal Injury Protection (PIP) auto insurance system.  The bill and its reform proposals were the subject of considerable analysis and discussion prior to the session and throughout its two-month term.  Insurance Commissioner Kevin […]

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Special Session on Redistricting Next Week

Special Session on Redistricting Next Week

The Florida legislature wrapped up its 2012 regular session yesterday, but they’ll be back next week for a special session on redistricting.  Just as the session was wrapping up, lawmakers learned that the Florida Supreme Court rejected the newly drawn Senate districts by a 5-2 vote.  The Court approved the House plan.  This means the […]

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Session Drawing to a Close

Session Drawing to a Close

The 2012 legislative session is rapidly drawing to a close–  at least the regular session, anyway.  The session is scheduled to end tonight, and lawmakers will work at a frenzied pace to address bills that are bouncing back and forth between the chambers. No Florida session would be complete without a property and casualty insurance […]

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Citizens Assessment Revision in Hands of Senate

Citizens Assessment Revision in Hands of Senate

The Florida House of Representatives has advanced HB 1127 by a vote of 89-25, sending it to the Senate for consideration.  This is the bill that would decrease the reliance of Citizens Property Insurance Corporation on regular assessments, shifting instead to more of an emergency assessment-based approach.  This is a rare bill in which Citizens, […]

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Workers’ Compensation Excess Profits Repeal Passes House

Workers’ Compensation Excess Profits Repeal Passes House

The Florida House of Representatives has passed a bill (HB 4169) that would repeal Florida’s excess profits law for workers’ compensation insurance.  The Senate should consider this favorable proposal, but unfortunately no companion bill exists. The excess profits law requires workers’ compensation insurers to refund their “excess” profits earned over a three-year period if they […]

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The Foreseeable Consequences of SB 1372

The Foreseeable Consequences of SB 1372

A proposal to reduce the size of the Florida Hurricane Catastrophe Fund (FHCF) remains under consideration in the Florida Senate in the form of SB 1372.  A similar proposal exists in the House of Representatives but has not advanced thus far in the 2012 legislative session. This proposal, which has been termed the FHCF “right-sizing” […]

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