Bill > S1058

This bill amends provisions related to the Florida Hurricane Catastrophe Fund (FHCF). It defines the term "unsound insurer" as an insurer determined to be in unsound condition or placed in receivership. The bill allows authorized insurers or the Citizens Property Insurance Corporation to seek coverage from the FHCF for policies assumed from an unsound insurer, and to have such policies treated as if they were in effect as of June 30 of that year. The bill also revises the definition of "covered policy" under the FHCF to include certain collateral protection insurance policies. The bill generally takes effect on July 1, 2022, except for the changes to the definition of "covered policy," which take effect on June 1, 2023.

Business and Industry, Health and Social Services

https://www.flsenate.gov/Session/Bill/2022/1058