summary
Introduced
01/09/2019
01/09/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
05/03/2019
05/03/2019
Introduced Session
2019 Regular Session
Bill Summary
Providing that certain dividends or premium refunds must be retained by the association's joint underwriting plan of insurers as surplus, subject to specified diligent search and notification requirements and subject to certain claims by former insureds, etc.
AI Summary
This bill amends Florida's existing law on the Florida Workers' Compensation Joint Underwriting Association (JUA). The key provisions are: (1) Any excess premiums or assessments collected by the JUA must be retained as surplus, rather than paid out as dividends or refunds, subject to a diligent search and notification process to locate former insureds owed refunds; (2) Any state funds received by the JUA in excess of deficits must be returned to the state; and (3) Unclaimed dividends or refunds retained by the JUA as surplus can be claimed by former insureds with satisfactory proof, with no time limit. The bill aims to manage the JUA's surplus and ensure proper distribution or retention of excess funds.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Other Sponsors (1)
Banking and Insurance (Senate)
Last Action
Died in Appropriations (on 05/03/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2019/264 |
| BillText | https://www.flsenate.gov/Session/Bill/2019/264/BillText/c1/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2019/264/BillText/c1/PDF |
| Senate Committee Amendment #124924 | https://www.flsenate.gov/Session/Bill/2019/264/Amendment/124924/HTML |
| BillText | https://www.flsenate.gov/Session/Bill/2019/264/BillText/Filed/HTML |
| Bill | https://www.flsenate.gov/Session/Bill/2019/264/BillText/Filed/PDF |
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