summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
2013 Regular Session
Bill Summary
Revises definition of term "corporation" for purposes relating to Florida Hurricane Catastrophe Fund; deletes outdated coverage level; revises coverage levels available under reimbursement contract; revises aggregate coverage limits; provides for phase-in of changes to coverage levels & limits; revises exemption of medical malpractice insurance premiums from emergency assessments if certain revenues are determined to be insufficient to fund obligations, costs, & expenses of Florida Hurricane Catastrophe Fund & Florida Hurricane Catastrophe Fund Finance Corporation; changes name of Florida Hurricane Catastrophe Fund Finance Corporation; deletes provisions relating to temporary emergency options for additional coverage.
AI Summary
This bill modifies the Florida Hurricane Catastrophe Fund (FHCF) by updating its definition of "corporation" to refer to the State Board of Administration Finance Corporation, which is a change from the previous Florida Hurricane Catastrophe Fund Finance Corporation. It also adjusts the available coverage levels and aggregate coverage limits for reimbursement contracts, with a phased-in approach for these changes, and revises the exemption for medical malpractice insurance premiums from emergency assessments, extending the repeal of this exemption to May 31, 2016, meaning these premiums will be subject to assessments for losses occurring after June 1, 2016. Additionally, the bill removes outdated provisions related to temporary emergency options for additional coverage that were specific to hurricane seasons from 2007 to 2010.
Committee Categories
Budget and Finance, Business and Industry, Government Affairs
Sponsors (2)
Other Sponsors (2)
Insurance and Banking Subcommittee (House), Regulatory Affairs Committee (House)
Last Action
Died on Calendar, companion bill(s) passed, see CS/CS/SB 468 (Ch. 2013-66), CS/SB 1770 (Ch. 2013-60) (on 05/03/2013)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| House Committee Strike All Amendment #092027 | http://www.flsenate.gov/Session/Bill/2013/1107/Amendment/092027/PDF |
| House Committee Amendment #638359 | http://www.flsenate.gov/Session/Bill/2013/1107/Amendment/638359/PDF |
| House Committee Amendment #933171 | http://www.flsenate.gov/Session/Bill/2013/1107/Amendment/933171/PDF |
| House Committee Amendment to Amendment #514641 | http://www.flsenate.gov/Session/Bill/2013/1107/Amendment/514641/PDF |
| Bill | http://www.flsenate.gov/Session/Bill/2013/1107/BillText/c2/PDF |
| Bill | http://www.flsenate.gov/Session/Bill/2013/1107/BillText/c1/PDF |
| Bill | http://www.flsenate.gov/Session/Bill/2013/1107 |
| Bill | http://www.flsenate.gov/Session/Bill/2013/1107/BillText/Filed/PDF |
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