Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. SPB 7018
       
       
       
       
       
       
                                Barcode 889978                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/07/2013           .                                
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       The Committee on Banking and Insurance (Hays) recommended the
       following:
       
    1         Senate Amendment to Amendment (609336) 
    2  
    3         Delete line 537
    4  and insert:
    5  before the execution of the agreement by the insurer.
    6         f. To ensure that exposures are accurately reported to the
    7  Florida Hurricane Catastrophe Fund, the corporation and each
    8  insurer participating in a risk-sharing agreement under this
    9  subparagraph must report its exposure under covered policies to
   10  the fund as required under s. 215.555(5)(c), including the
   11  requirement that, by September 1 of each year, each insurer
   12  notify the board of its insured values under covered policies as
   13  of June 30 of that year. Each report must also specify the
   14  percentage of liability applicable to the corporation and the
   15  percentage applicable to the insurer. Pursuant to its authority
   16  under s. 215.555, the State Board of Administration shall adopt
   17  rules to administer this sub-subparagraph.