House Bill 4009
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Florida House of Representatives - 2000 HB 4009
By the Committee on Rules & Calendar and Representative
Bitner
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6 have been impliedly repealed or superseded;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 repealing s. 215.555(15), F.S., relating to the
8 definition of "collateral protection
9 insurance"; amending s. 624.408, F.S.; deleting
10 obsolete schedule provisions relating to the
11 surplus required to be maintained by certain
12 property and casualty insurers; repealing s.
13 624.515(2)(b), F.S., relating to applicability
14 of the surcharge on policies of fire, allied
15 lines, or multiperil insurance insuring
16 commercial property; repealing s. 626.9929,
17 F.S., relating to a grace period under the
18 Viatical Settlement Act; amending s. 627.0628,
19 F.S.; deleting obsolete provisions relating to
20 adoption and revision of hurricane loss
21 projection standards and guidelines; repealing
22 s. 627.072(4)(c), F.S., relating to a directive
23 to the Insurance Commissioner on the use of a
24 methodology for establishing rates for workers'
25 compensation and employer's liability
26 insurance; amending s. 627.215, F.S.; deleting
27 an obsolete reporting requirement on the excess
28 profits law; amending s. 627.3511, F.S.;
29 deleting findings relating to the need to
30 reduce the number of Residential Property and
31 Casualty Joint Underwriting Association
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Florida House of Representatives - 2000 HB 4009
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1 policies; repealing s. 627.706(5), F.S.,
2 relating to applicability of sinkhole insurance
3 requirements; amending s. 629.520, F.S.;
4 deleting obsolete provisions relating to the
5 authority of limited reciprocal insurers;
6 amending s. 633.41, F.S.; deleting an obsolete
7 provision relating to firefighter certificates
8 of tenure; repealing s. 633.537(3)(b), F.S.,
9 relating to obsolete continuing education
10 requirements for fire protection contractors;
11 repealing s. 634.404(1)(a) and (b), F.S.,
12 relating to a phase-in period for service
13 warranty associations to meet minimum net asset
14 requirements; repealing s. 642.0262(2), F.S.,
15 relating to a phase-in period for legal expense
16 insurance corporations to meet minimum net
17 worth requirements; providing an effective
18 date.
19
20 Be It Enacted by the Legislature of the State of Florida:
21
22 Section 1. Subsection (15) of section 215.555, Florida
23 Statutes, is repealed.
24 Section 2. Paragraph (b) of subsection (1) of section
25 624.408, Florida Statutes, is amended to read:
26 624.408 Surplus as to policyholders required; new and
27 existing insurers.--
28 (1)
29 (b) For any property and casualty insurer holding a
30 certificate of authority on December 1, 1993, the following
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Florida House of Representatives - 2000 HB 4009
175-148-00
1 amounts apply instead of the $4 million required by
2 subparagraph (a)5.:
3 1. On December 31, 1998, and until December 30, 1999,
4 $2.25 million.
5 2. On December 31, 1999, and until December 30, 2000,
6 $2.5 million.
7 1.3. On December 31, 2000, and until December 30,
8 2001, $2.75 million.
9 2.4. On December 31, 2001, and until December 30,
10 2002, $3 million.
11 3.5. On December 31, 2002, and until December 30,
12 2003, $3.25 million.
13 4.6. On December 31, 2003, and until December 30,
14 2004, $3.6 million.
15 5.7. On December 31, 2004, and thereafter, $4 million.
16 Section 3. Paragraph (b) of subsection (2) of section
17 624.515, Florida Statutes, is repealed.
18 Section 4. Section 626.9929, Florida Statutes, is
19 repealed.
20 Section 5. Paragraph (d) of subsection (3) of section
21 627.0628, Florida Statutes, is amended to read:
22 627.0628 Florida Commission on Hurricane Loss
23 Projection Methodology.--
24 (3) ADOPTION AND EFFECT OF STANDARDS AND GUIDELINES.--
25 (d) The commission shall adopt initial actuarial
26 methods, principles, standards, models, or output ranges no
27 later than December 31, 1995. The commission shall adopt
28 revisions to such actuarial methods, principles, standards,
29 models, or output ranges at least annually thereafter. As
30 soon as possible, but no later than July 1, 1996, the
31 commission shall adopt revised actuarial methods, principles,
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Florida House of Representatives - 2000 HB 4009
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1 standards, models, or output ranges which include
2 specification of acceptable computer models or output ranges
3 derived from computer models.
4 Section 6. Paragraph (c) of subsection (4) of section
5 627.072, Florida Statutes, is repealed.
6 Section 7. Subsection (14) of section 627.215, Florida
7 Statutes, is amended to read:
8 627.215 Excessive profits for workers' compensation,
9 employer's liability, commercial property, and commercial
10 casualty insurance prohibited.--
11 (14) The application of this law to commercial
12 property and commercial casualty insurance, which includes
13 commercial umbrella liability insurance, ceases on January 1,
14 1997. The Department of Insurance shall, no later than
15 October 1, 1995, provide a report on this law to the President
16 of the Senate and the Speaker of the House of Representatives,
17 which report includes a history of the excess profits law and
18 a year-by-year listing of excess profits returned to
19 policyholders as refunds or credits.
20 Section 8. Subsection (1) of section 627.3511, Florida
21 Statutes, is amended to read:
22 627.3511 Depopulation of Residential Property and
23 Casualty Joint Underwriting Association.--
24 (1) LEGISLATIVE FINDINGS AND INTENT.--The Legislature
25 finds and declares that the Residential Property and Casualty
26 Joint Underwriting Association has written an amount of
27 policies beyond legislative expectations and has become, by
28 virtue of its size, a significant impediment to the
29 restoration of a stable and competitive residential property
30 insurance market in this state; that the public policy of this
31 state requires the maintenance of a residual market for
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Florida House of Representatives - 2000 HB 4009
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1 residential property insurance; and that extraordinary
2 measures, beyond implementation of eligibility criteria and
3 noncompetitive rates, are required to reduce the number of
4 policies written by the Residential Property and Casualty
5 Joint Underwriting Association to a reasonable level. It is
6 the intent of the Legislature to provide a variety of
7 financial incentives to encourage the replacement of the
8 highest possible number of Residential Property and Casualty
9 Joint Underwriting Association policies with policies written
10 by admitted insurers at approved rates.
11 Section 9. Subsection (5) of section 627.706, Florida
12 Statutes, is repealed.
13 Section 10. Section 629.520, Florida Statutes, is
14 amended to read:
15 629.520 Abolition of existing Authority of the
16 department to issue a certificate of authority as a limited
17 reciprocal insurer.--On October 1, 1991, the existing
18 authority of the department to issue a certificate of
19 authority as a limited reciprocal insurer pursuant to this
20 chapter is abolished. Existing limited reciprocal insurers
21 which continue to hold a certificate of authority after this
22 date shall have until October 1, 1992, to convert their
23 certificate of authority by meeting the requirements for a
24 certificate of authority as another type of insurer authorized
25 under this code. All existing certificates of authority as a
26 limited reciprocal insurer not so converted shall
27 automatically terminate on October 1, 1992. The authority of
28 any limited reciprocal insurer to accept new business or
29 renewals shall not continue beyond October 1, 1992; however,
30 such limited reciprocal insurer shall continue to service its
31 obligations previously incurred or with the approval of the
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Florida House of Representatives - 2000 HB 4009
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1 department, arrange for the transfer of these obligations to
2 an authorized insurer. All power of the department with
3 respect to limited reciprocal insurers shall continue
4 undiminished. This section does not affect any other power of
5 the department or any other function of the department.
6 Section 11. Section 633.41, Florida Statutes, is
7 amended to read:
8 633.41 Saving clause.--Firefighters employed on July
9 5, 1969, are not required to meet the provisions of ss. 633.34
10 and 633.35 as a condition of tenure or continued employment;
11 nor shall their failure to fulfill such requirements make them
12 ineligible for any promotional examination for which they are
13 otherwise eligible or affect in any way any pension rights to
14 which they may be entitled on July 5, 1969. Firefighters
15 employed on July 5, 1969, who have not yet been issued a
16 certificate of tenure shall make application to the Florida
17 State Fire College for such certificate no later than June 30,
18 1990, after which date no certificates of tenure will be
19 issued.
20 Section 12. Paragraph (b) of subsection (3) of section
21 633.537, Florida Statutes, is repealed.
22 Section 13. Paragraphs (a) and (b) of subsection (1)
23 of section 634.404, Florida Statutes, are repealed.
24 Section 14. Subsection (2) of section 642.0262,
25 Florida Statutes, is repealed.
26 Section 15. This act shall take effect upon becoming a
27 law.
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Florida House of Representatives - 2000 HB 4009
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2 HOUSE SUMMARY
3
Repeals or deletes various statutory provisions that have
4 become obsolete, have had their effect, have served their
purpose, or have been impliedly repealed or superseded.
5 Repeals or deletes provisions relating to the definition
of "collateral protection insurance"; obsolete schedule
6 provisions relating to the surplus required to be
maintained by certain property and casualty insurers;
7 applicability of the surcharge on policies of fire,
allied lines, or multiperil insurance insuring commercial
8 property; a grace period under the Viatical Settlement
Act; obsolete provisions relating to adoption and
9 revision of hurricane loss projection standards and
guidelines; a directive to the Insurance Commissioner on
10 the use of a methodology for establishing rates for
workers' compensation and employer's liability insurance;
11 an obsolete reporting requirement on the excess profits
law; findings relating to the need to reduce the number
12 of Residential Property and Casualty Joint Underwriting
Association policies; applicability of sinkhole insurance
13 requirements; obsolete provisions relating to the
authority of limited reciprocal insurers; an obsolete
14 provision relating to firefighter certificates of tenure;
obsolete continuing education requirements for fire
15 protection contractors; and phase-in periods for service
warranty associations to meet minimum net asset
16 requirements and legal expense insurance corporations to
meet minimum net worth requirements.
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