summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2013 Regular Session
Bill Summary
Revises definitions of terms "covered policy," "retention," & "corporation"; provides for calculation of insurer's reimbursement premium & retention under reimbursement contract; revises coverage levels available under reimbursement contract; revises aggregate coverage limits; provides for phase-in of changes to coverage levels & limits; changes name of Florida Hurricane Catastrophe Fund Finance Corporation; repeals provisions relating to temporary emergency options for additional coverage; provides for recoupment of certain costs of reinsurance.
AI Summary
This bill modifies the Florida Hurricane Catastrophe Fund (FHCF) by updating definitions for "covered policy," "retention," and "corporation," and by altering how an insurer's reimbursement premium and retention are calculated under a reimbursement contract. It also adjusts the available coverage levels and aggregate coverage limits, phasing in these changes over several years, and renames the Florida Hurricane Catastrophe Fund Finance Corporation to the State Board of Administration Finance Corporation. Additionally, the bill repeals provisions related to temporary emergency options for additional coverage and allows for the recoupment of certain reinsurance costs.
Sponsors (1)
Last Action
Withdrawn prior to introduction, companion bill(s) passed, see CS/SB 1770 (Ch. 2013-60) (on 02/27/2013)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| Bill | http://www.flsenate.gov/Session/Bill/2013/1055 |
| Bill | http://www.flsenate.gov/Session/Bill/2013/1055/BillText/Filed/PDF |
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