SENATE AMENDMENT
    Bill No. SB 50-A
    Amendment No. ___   Barcode 985440
                            CHAMBER ACTION
              Senate                               House
                                   .                    
                                   .                    
 1                  10/F/2R        .                    
       05/21/2003 03:22 PM         .                    
 2                                 .                    
                                   .                    
 3                                 .                    
                                   .                    
 4  ______________________________________________________________
 5  
 6  
 7  
 8  
 9  
10  ______________________________________________________________
11  Senator Campbell moved the following amendment:
12  
13         Senate Amendment (with title amendment) 
14         On page 197, between lines 15 and 16,
15  
16  insert:  
17         Section 45.  It is the intent of the Legislature that
18  the cost of workers' compensation insurance be reduced to
19  employers who are required to maintain such coverage. On
20  September 1, 2003, rates for workers' compensation insurance
21  shall be reduced by each insurer as defined in section 624.08,
22  Florida Statutes, commercial self-insurance fund as defined in
23  section 624.462, Florida Statutes, and group self-insurer as
24  defined in section 440.02, Florida Statutes. The September 1,
25  2003, rate reduction for each insurer, commercial
26  self-insurance fund, and group self-insurer shall be 15
27  percent of the rates that were effective on January 1, 2003,
28  and the revised rates must remain in effect until January 1,
29  2005. There may not be any exceptions to the requirements of
30  this section, unless the Department of Financial Services
31  finds that the use of the revised rates by a particular
                                  1
    2:08 PM   05/19/03                               s0050Ac-32c9k


                                                  SENATE AMENDMENT
    Bill No. SB 50-A
    Amendment No. ___   Barcode 985440
 1  insurer, commercial self-insurance fund, or group self-insurer
 2  will result in rates that jeopardize the solvency of the
 3  insurer, commercial self-insurance fund, or group
 4  self-insurer. Any new or renewal policy entered into on or
 5  after September 1, 2003, must reflect the 15-percent reduction
 6  in rates for the required coverage under this act. The
 7  Department of Insurance shall adopt rules applying this
 8  section to the unexpired term of all workers' compensation
 9  insurance policies in existence on September 1, 2003. Any
10  insurer, commercial self-insurance fund, or group self-insurer
11  that has an approved deviation or discount in existence on or
12  before September 1, 2003, shall discontinue use of such
13  deviation or discount as of September 1, 2003, with regard to
14  all insureds. An insurer, a commercial self-insurance fund, or
15  a group self-insurer may not make written application to the
16  Department of Insurance for permission to file a uniform
17  percentage decrease below the revised rates effective as of
18  September 1, 2003.
19  
20  (Redesignate subsequent sections.)
21  
22  
23  ================ T I T L E   A M E N D M E N T ===============
24  And the title is amended as follows:
25         On page 5, line 22, after the semicolon
26  
27  insert:
28         requiring a reduction in workers' compensation
29         insurance rates and specifying a procedure for
30         implementation;
31  
                                  2
    2:08 PM   05/19/03                               s0050Ac-32c9k