summary
Introduced
01/10/2014
01/10/2014
In Committee
04/09/2014
04/09/2014
Crossed Over
04/09/2014
04/09/2014
Passed
Dead
05/02/2014
05/02/2014
Introduced Session
Potential new amendment
2014 Regular Session
Bill Summary
Authorizes local government units to contract with certain corporations not for profit for insurance; revises original appointment & renewal fees related to certain insurance representatives; revises specified time period applicable to certified examination that must be filed by foreign or alien insurer applying for certificate of authority; prohibits an insurance agency from conducting insurance business at location without designated agent in charge; provides agency license requirements; revises qualifications for approval as mediator by DFS; provides grounds for department to deny an application, or suspend or revoke approval of mediator or certification of neutral evaluator; authorizes department to adopt rules; authorizes electronic transfer of unearned premium under specified circumstances; revises date by which title insurance agencies & certain insurers must annually submit specified information to OIR; requirements relating to contractual liability policies that insure warranty associations; provides effective dates.
AI Summary
This bill makes several changes to Florida's insurance laws, including allowing local government units to contract with certain non-profit corporations for insurance, revising fees for insurance representatives, and adjusting timeframes for foreign insurers seeking a certificate of authority. It also introduces new requirements for insurance agencies, such as designating an agent in charge at each location and prohibiting business at locations without one. The bill clarifies qualifications for mediators and grounds for the Department of Financial Services (DFS) to deny applications or suspend approvals, and authorizes electronic transfer of unearned premiums under specific circumstances. Additionally, it revises reporting deadlines for title insurance agencies and insurers, modifies requirements for contractual liability policies that insure warranty associations, and includes various effective dates for its provisions.
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 in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) (on 05/02/2014)
Official Document
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