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HB 1099: Citizens Property Insurance Corporation

GENERAL BILL by Albritton

Citizens Property Insurance Corporation; Revises provisions relating to Florida Hurricane Catastrophe Fund; revises definition of "covered policy"; revises provisions relating to exchange of business between agent & insurer; applies exemption from certain requirements to corporation; revises requirements relating to quota share primary insurance agreements; requires corporation & authorized insurers to enter into excess of loss reinsurance agreements & quota share reinsurance agreements in certain circumstances; authorizes corporation's board of governors to limit corporation's participation; provides that if corporation is reinsurer, all forms & endorsements must be approved by OIR; prohibits corporation from sharing risk for certain damages; requires corporation & each insurer to report additional information to fund & revise procedures for determining whether risk is eligible for corporation; requires corporation to implement eligibility procedures & operational requirements for certain purposes which include clearinghouse for new applications.

Effective Date: 7/1/2013
Last Action: 5/3/2013 House - Died in Insurance and Banking Subcommittee, companion bill(s) passed, see CS/SB 1770 (Ch. 2013-60)
Location: In committee/council (IBS)
Bill Text: PDF



Bill History

Date Chamber Action
2/27/2013 House • Filed
3/5/2013 House • Introduced -HJ 108
3/6/2013 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 199
5/3/2013 House • Died in Insurance and Banking Subcommittee, companion bill(s) passed, see CS/SB 1770 (Ch. 2013-60)