SENATE AMENDMENT

    Bill No. CS for SB 874

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
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11  Senator Forman moved the following amendment:

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13         Senate Amendment (with title amendment) 

14         On page 36, before line 1,

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16  insert:

17         Section 24.  In approving rates for liability insurance

18  coverage to take effect on or after October 1, 1999, the

19  Department of Insurance shall take into account the savings

20  resulting from the changes to the tort system included in this

21  act, which, unless clear and convincing evidence to the

22  contrary is shown to the department shall be deemed to be $1

23  billion dollars per year. All authorized insurers transacting

24  liability insurance in this state shall, with respect to any

25  liability insurance policy, or liability portion of a

26  comprehensive insurance policy, issued or renewed during the

27  period from October 1, 1998, until September 30, 1999, provide

28  to the insured a special credit to be applied against the

29  premium for the insurance equal to 10 percent of the insurer's

30  approved rate for the same term and coverage in effect on

31  October 1, 1998. An insurer is not required to implement the

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                                                  SENATE AMENDMENT

    Bill No. CS for SB 874

    Amendment No.    





 1  special credit if the insurer proves to the Department of

 2  Insurance by clear and convincing evidence that the

 3  implementation of the credit will jeopardize its solvency.

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 5  (Redesignate subsequent sections.)

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 8  ================ T I T L E   A M E N D M E N T ===============

 9  And the title is amended as follows:

10         On page 5, line 4, after the semicolon,

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12  insert:

13         providing for a special credit for liability

14         insurance coverage issued or renewed after a

15         specified date;

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