Bill > S0714

This bill, titled "Omnibus Prime," makes the following key changes: 1. Increases the required reimbursement of loss adjustment expenses from 5% to 10% for property insurers under the Florida Hurricane Catastrophe Fund. 2. Allows insurance companies to forward certificates of title for certain salvage motor vehicles or mobile homes to the Department of Highway Safety and Motor Vehicles by electronic means, the U.S. Postal Service, or another commercial delivery service. 3. Revises a criminal penalty from a second-degree to a third-degree felony for submitting an employer application for workers' compensation insurance coverage that contains false, misleading, or incomplete information. 4. Creates a new law allowing a liability insurer that defends an insured against a claim to seek contribution for defense costs from any other liability insurer that also owes a duty to defend the insured. 5. Makes various other changes to insurance laws in Florida, including provisions related to risk-based capital requirements, surplus lines insurance, and residential property insurance claims.