Florida Senate - 2017                             CS for SB 1684
       
       
        
       By the Committee on Banking and Insurance; and Senator Farmer
       
       
       
       
       
       597-03393-17                                          20171684c1
    1                        A bill to be entitled                      
    2         An act relating to insurance rates; amending ss.
    3         627.062 and 627.428, F.S.; providing that attorney
    4         fees paid pursuant to specified provisions may not be
    5         included in an insurer’s base rate and may not be used
    6         to justify a rate or rate change; providing an
    7         effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (11) is added to section 627.062,
   12  Florida Statutes, to read:
   13         627.062 Rate standards.—
   14         (11) Attorney fees paid pursuant to s. 440.34 or s. 627.428
   15  may not be included in the insurer’s rate base and may not be
   16  used to justify a rate or rate change.
   17         Section 2. Subsection (4) is added to section 627.428,
   18  Florida Statutes, to read:
   19         627.428 Attorney’s fee.—
   20         (4) Attorney fees paid pursuant to this section may not be
   21  included in the insurer’s rate base and may not be used to
   22  justify a rate or rate change.
   23         Section 3. This act shall take effect July 1, 2017.