Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 730
       
       
       
       
       
       
                                Ì592904.Î592904                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RS            .                                
                  03/06/2017           .                                
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       The Committee on Banking and Insurance (Passidomo) recommended
       the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 302 - 362
    4  and insert:
    5         (4) The receiver may petition the receivership court to set
    6  a date certain before which all contingent or unliquidated
    7  claims are final. In addition to the notice requirements in this
    8  section, the receiver shall give notice of filing the petition
    9  to all claimants with claims that remain contingent or
   10  unliquidated under this section.
   11         (5) Notwithstanding any other provision of this chapter,
   12  the receiver may petition the receivership court to set a date
   13  certain after which no further claims may be filed.
   14         Section 10. Subsections (5) and (6) are added to section
   15  631.192, Florida Statutes, to read:
   16         631.192 Allowance of certain claims.—
   17         (5) A claim under a policy of insurance may not be allowed
   18  for an amount in excess of the applicable policy limits.
   19         (6) A claim may not be allowed for postjudgment interest
   20  accrued after the date of liquidation.
   21         Section 11. Paragraphs (a), (b), (f), and (j) of subsection
   22  (1) of section 631.271, Florida Statutes, are amended to read:
   23         631.271 Priority of claims.—
   24         (1) The priority of distribution of claims from the
   25  insurer’s estate shall be in accordance with the order in which
   26  each class of claims is set forth in this subsection. Every
   27  claim in each class shall be paid in full or adequate funds
   28  shall be retained for such payment before the members of the
   29  next class may receive any payment. No subclasses may be
   30  established within any class. The order of distribution of
   31  claims shall be:
   32         (a) Class 1.—
   33         1. All of the receiver’s costs and expenses of
   34  administration.
   35         2. All of the expenses of a guaranty association or foreign
   36  guaranty association in handling claims.
   37         3. All of the deputy supervisor’s costs and expenses of
   38  administration incurred as a result of administrative
   39  supervision under part VI of chapter 624.
   40         (b) Class 2.—All claims under policies for losses incurred,
   41  including third-party claims, all claims against the insurer for
   42  liability for bodily injury or for injury to or destruction of
   43  tangible property which claims are not under policies, and all
   44  claims of a guaranty association or foreign guaranty
   45  association, all claims related to a patient’s healthcare
   46  coverage by physicians, hospitals, and other providers of a
   47  health insurer or health maintenance organization. All claims
   48  under life insurance and annuity policies, whether for death
   49  proceeds, annuity proceeds, or investment values, shall be
   50  treated as loss claims. That portion of any loss,
   51  indemnification for which is provided by other benefits or
   52  advantages recovered by the claimant, may not be included in
   53  this class, other than benefits or advantages recovered or
   54  recoverable in discharge of familial obligations of support or
   55  by way of succession at death or as proceeds of life insurance,
   56  or as gratuities. No payment by an employer to her or his
   57  employee may be treated as a gratuity.
   58         (f) Class 6.—Claims of general and other unsecured
   59  creditors, including claims against the insurer for punitive
   60  damages, bad faith, or wrongful settlement practices.
   61         (j) Class 10.—Interest on allowed claims of Classes 1
   62  through 9. The rate of interest payable on an allowed claim must
   63  accrue from the date of liquidation until such time as the
   64  receivership court approves the distribution. The interest rate
   65  must be calculated in accordance