SENATE AMENDMENT
Bill No. CS for SB 2-D
Amendment No. ___ Barcode 474972
CHAMBER ACTION
Senate House
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08/13/2003 11:05 AM .
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11 Senator Klein moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 93, line 21, through
15 page 95, line 27, delete those lines
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17 and insert:
18 (8)(a) No later than 60 days after the effective date
19 of medical malpractice legislation enacted during the 2003
20 Special Session D of the Florida Legislature, the office shall
21 calculate a presumed factor that reflects the impact that the
22 changes contained in such legislation will have on rates for
23 medical malpractice insurance and shall issue a notice
24 informing all insurers writing medical malpractice coverage of
25 such presumed factor. In determining the presumed factor, the
26 office shall use generally accepted actuarial techniques and
27 standards provided in this section in determining the expected
28 impact on losses, expenses, and investment income of the
29 insurer.
30 (b) For any coverage for medical malpractice insurance
31 subject to this chapter issued or renewed on or after October
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8:37 PM 08/12/03 s0002Dc1c-30j02
SENATE AMENDMENT
Bill No. CS for SB 2-D
Amendment No. ___ Barcode 474972
1 1, 2003, every insurer shall reduce its rates to levels that
2 are at least 20 percent less than the rates for the same
3 coverage that were in effect on January 1, 2003.
4 (c) Notwithstanding any provision of law to the
5 contrary, between October 1, 2003, and October 1, 2004, rates
6 reduced pursuant to paragraph (b) may only be increased if the
7 director of the Office of Insurance Regulation finds, after a
8 hearing, that an insurer or self-insurer or the Florida
9 Medical Malpractice Joint Underwriting Association is unable
10 to earn a fair rate of return, taking into consideration a
11 presumed factor reflecting the impact on medical malpractice
12 rates calculated by the Office of Insurance Regulation.
13 (d) Commencing October 1, 2003, insurance rates for
14 medical malpractice subject to this chapter must be approved
15 by the director of the Office of Insurance Regulation prior to
16 being used.
17 (e) Any separate affiliate of an insurer is subject to
18 the provisions of this section.
19 (f) The calculation and notice by the office of the
20 presumed factor pursuant to paragraph (a) is not an order or
21 rule that is subject to chapter 120. If the office enters into
22 a contract with an independent consultant to assist the office
23 in calculating the presumed factor, such contract shall not be
24 subject to the competitive solicitation requirements of s.
25 287.057.
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29 And the title is amended as follows:
30 On page 9, lines 23 through 26, delete those lines
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SENATE AMENDMENT
Bill No. CS for SB 2-D
Amendment No. ___ Barcode 474972
1 and insert:
2 requiring a medical malpractice insurance rate
3 rollback; providing for subsequent increases
4 under certain circumstances; requiring approval
5 for use of certain medical malpractice
6 insurance rates;
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