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. 26 27 28 ================ T I T L E A M E N D M E N T =============== 29 And the title is amended as follows: 30 On page 9, lines 23 through 26, delete those lines 31 2 8:37 PM 08/12/03 s0002Dc1c-30j02
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; 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 8:37 PM 08/12/03 s0002Dc1c-30j02