Bill > H0465

This bill provides several key changes to insurance regulations in Florida: 1. It allows certain foreign insurers to value stocks in subsidiaries differently than required under existing law, if the insurer's state of domicile is a member of the National Association of Insurance Commissioners. 2. It revises the definition of "specialty insurer" to include viatical settlement providers and allows them to rebut a presumption of control over a specialty insurer. 3. It revises requirements for rules adopted by the Department of Financial Services and the Financial Services Commission relating to consumer privacy, aligning them with federal regulations. 4. It allows insurers to issue insurance policies without requiring execution by an officer or representative, and revises requirements for providing notice of changes in policy terms to policyholders. 5. It makes changes to the alternative dispute resolution process for property insurance claims, including allowing third-party assignees to request mediation. 6. It updates requirements for delivering motor vehicle service agreements and health maintenance organization contracts to subscribers, allowing electronic delivery in certain circumstances.

Business and Industry

Commerce Committee (H), Insurance and Banking Subcommittee (H)

http://www.flsenate.gov/Session/Bill/2018/465