Senate Bill 1744
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
By Senator McKay
26-1027A-00 See HB 4009
1 A bill to be entitled
2 An act relating to the Florida Statutes;
3 repealing or deleting various statutory
4 provisions that have become obsolete, have had
5 their effect, have served their purpose, or
6 have been impliedly repealed or superseded;
7 amending s. 624.408, F.S.; deleting an obsolete
8 schedule provision relating to the surplus
9 required to be maintained by certain property
10 and casualty insurers; repealing s.
11 624.515(2)(b), F.S., relating to applicability
12 of the surcharge on policies of fire, allied
13 lines, or multiperil insurance insuring
14 commercial property; repealing s. 626.9929,
15 F.S., relating to a grace period under the
16 Viatical Settlement Act; amending s. 627.0628,
17 F.S.; deleting obsolete provisions relating to
18 adoption and revision of hurricane loss
19 projection standards and guidelines; repealing
20 s. 627.072(4)(c), F.S., relating to a directive
21 to the Insurance Commissioner on the use of a
22 methodology for establishing rates for workers'
23 compensation and employer's liability
24 insurance; amending s. 627.215, F.S.; deleting
25 an obsolete reporting requirement on the excess
26 profits law; amending s. 627.3511, F.S.;
27 deleting findings relating to the need to
28 reduce the number of Residential Property and
29 Casualty Joint Underwriting Association
30 policies; repealing s. 627.706(5), F.S.,
31 relating to applicability of sinkhole insurance
1
CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
26-1027A-00 See HB 4009
1 requirements; amending s. 629.520, F.S.;
2 deleting obsolete provisions relating to the
3 authority of limited reciprocal insurers;
4 amending s. 633.41, F.S.; deleting an obsolete
5 provision relating to firefighter certificates
6 of tenure; providing an effective date.
7
8 Be It Enacted by the Legislature of the State of Florida:
9
10 Section 1. Paragraph (b) of subsection (1) of section
11 624.408, Florida Statutes, is amended to read:
12 624.408 Surplus as to policyholders required; new and
13 existing insurers.--
14 (1)
15 (b) For any property and casualty insurer holding a
16 certificate of authority on December 1, 1993, the following
17 amounts apply instead of the $4 million required by
18 subparagraph (a)5.:
19 1. On December 31, 1998, and until December 30, 1999,
20 $2.25 million.
21 1.2. On December 31, 1999, and until December 30,
22 2000, $2.5 million.
23 2.3. On December 31, 2000, and until December 30,
24 2001, $2.75 million.
25 3.4. On December 31, 2001, and until December 30,
26 2002, $3 million.
27 4.5. On December 31, 2002, and until December 30,
28 2003, $3.25 million.
29 5.6. On December 31, 2003, and until December 30,
30 2004, $3.6 million.
31 6.7. On December 31, 2004, and thereafter, $4 million.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
26-1027A-00 See HB 4009
1 Section 2. Paragraph (b) of subsection (2) of section
2 624.515, Florida Statutes, is repealed.
3 Section 3. Section 626.9929, Florida Statutes, is
4 repealed.
5 Section 4. Paragraph (d) of subsection (3) of section
6 627.0628, Florida Statutes, is amended to read:
7 627.0628 Florida Commission on Hurricane Loss
8 Projection Methodology.--
9 (3) ADOPTION AND EFFECT OF STANDARDS AND GUIDELINES.--
10 (d) The commission shall adopt initial actuarial
11 methods, principles, standards, models, or output ranges no
12 later than December 31, 1995. The commission shall adopt
13 revisions to such actuarial methods, principles, standards,
14 models, or output ranges at least annually thereafter. As
15 soon as possible, but no later than July 1, 1996, the
16 commission shall adopt revised actuarial methods, principles,
17 standards, models, or output ranges which include
18 specification of acceptable computer models or output ranges
19 derived from computer models.
20 Section 5. Paragraph (c) of subsection (4) of section
21 627.072, Florida Statutes, is repealed.
22 Section 6. Subsection (14) of section 627.215, Florida
23 Statutes, is amended to read:
24 627.215 Excessive profits for workers' compensation,
25 employer's liability, commercial property, and commercial
26 casualty insurance prohibited.--
27 (14) The application of this law to commercial
28 property and commercial casualty insurance, which includes
29 commercial umbrella liability insurance, ceases on January 1,
30 1997. The Department of Insurance shall, no later than
31 October 1, 1995, provide a report on this law to the President
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
26-1027A-00 See HB 4009
1 of the Senate and the Speaker of the House of Representatives,
2 which report includes a history of the excess profits law and
3 a year-by-year listing of excess profits returned to
4 policyholders as refunds or credits.
5 Section 7. Subsection (1) of section 627.3511, Florida
6 Statutes, is amended to read:
7 627.3511 Depopulation of Residential Property and
8 Casualty Joint Underwriting Association.--
9 (1) LEGISLATIVE FINDINGS AND INTENT.--The Legislature
10 finds and declares that the Residential Property and Casualty
11 Joint Underwriting Association has written an amount of
12 policies beyond legislative expectations and has become, by
13 virtue of its size, a significant impediment to the
14 restoration of a stable and competitive residential property
15 insurance market in this state; that the public policy of this
16 state requires the maintenance of a residual market for
17 residential property insurance; and that extraordinary
18 measures, beyond implementation of eligibility criteria and
19 noncompetitive rates, are required to reduce the number of
20 policies written by the Residential Property and Casualty
21 Joint Underwriting Association to a reasonable level. It is
22 the intent of the Legislature to provide a variety of
23 financial incentives to encourage the replacement of the
24 highest possible number of Residential Property and Casualty
25 Joint Underwriting Association policies with policies written
26 by admitted insurers at approved rates.
27 Section 8. Subsection (5) of section 627.706, Florida
28 Statutes, is repealed.
29 Section 9. Section 629.520, Florida Statutes, is
30 amended to read:
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
26-1027A-00 See HB 4009
1 629.520 Abolition of existing Authority of the
2 department to issue a certificate of authority as a limited
3 reciprocal insurer.--On October 1, 1991, the existing
4 authority of the department to issue a certificate of
5 authority as a limited reciprocal insurer pursuant to this
6 chapter is abolished. Existing limited reciprocal insurers
7 which continue to hold a certificate of authority after this
8 date shall have until October 1, 1992, to convert their
9 certificate of authority by meeting the requirements for a
10 certificate of authority as another type of insurer authorized
11 under this code. All existing certificates of authority as a
12 limited reciprocal insurer not so converted shall
13 automatically terminate on October 1, 1992. The authority of
14 any limited reciprocal insurer to accept new business or
15 renewals shall not continue beyond October 1, 1992; however,
16 such limited reciprocal insurer shall continue to service its
17 obligations previously incurred or with the approval of the
18 department, arrange for the transfer of these obligations to
19 an authorized insurer. All power of the department with
20 respect to limited reciprocal insurers shall continue
21 undiminished. This section does not affect any other power of
22 the department or any other function of the department.
23 Section 10. Section 633.41, Florida Statutes, is
24 amended to read:
25 633.41 Saving clause.--Firefighters employed on July
26 5, 1969, are not required to meet the provisions of ss. 633.34
27 and 633.35 as a condition of tenure or continued employment;
28 nor shall their failure to fulfill such requirements make them
29 ineligible for any promotional examination for which they are
30 otherwise eligible or affect in any way any pension rights to
31 which they may be entitled on July 5, 1969. Firefighters
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2000 SB 1744
26-1027A-00 See HB 4009
1 employed on July 5, 1969, who have not yet been issued a
2 certificate of tenure shall make application to the Florida
3 State Fire College for such certificate no later than June 30,
4 1990, after which date no certificates of tenure will be
5 issued.
6 Section 11. This act shall take effect upon becoming a
7 law.
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10 LEGISLATIVE SUMMARY
11
Repeals or deletes various statutory provisions that have
12 become obsolete, have had their effect, have served their
purpose, or have been impliedly repealed or superseded.
13 Repeals or deletes obsolete provisions relating to the
surplus required to be maintained by certain property and
14 casualty insurers and provisions relating to the
applicability of the surcharge on policies of fire,
15 allied lines, or multiperil insurance insuring commercial
property; a grace period under the Viatical Settlement
16 Act; obsolete provisions relating to adoption and
revision of hurricane loss projection standards and
17 guidelines; a directive to the Insurance Commissioner on
the use of a methodology for establishing rates for
18 workers' compensation and employer's liability insurance;
an obsolete reporting requirement on the excess profits
19 law; findings relating to the need to reduce the number
of Residential Property and Casualty Joint Underwriting
20 Association policies; applicability of sinkhole insurance
requirements; obsolete provisions relating to the
21 authority of limited reciprocal insurers; and an obsolete
provision relating to firefighter certificates of tenure.
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