SENATE AMENDMENT
Bill No. CS for CS for SB 2270
Amendment No. ___ Barcode 125598
CHAMBER ACTION
Senate House
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11 Senator Atwater moved the following amendment:
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13 Senate Amendment
14 On page 23, line 14, through
15 page 24, line 27, delete those lines
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17 and insert:
18 (1) The Legislature intends to create a state workers'
19 compensation mutual fund if workers' compensation coverage is
20 not generally available and affordable to small employers and
21 organizations that are exempt from federal income tax under s.
22 501(c)(3) of the Internal Revenue Code in Florida by October
23 1, 2005. In order to make this determination, there is
24 established the Workers' Compensation Insurance Market
25 Evaluation Committee which shall consist of one member
26 appointed by the Governor, who shall serve as chair; two
27 members appointed by the President of the Senate; and two
28 members appointed by the Speaker of the House of
29 Representatives. The committee shall monitor and report on the
30 number of insurers actively writing workers' compensation
31 insurance in this state for small employers and organizations
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SENATE AMENDMENT
Bill No. CS for CS for SB 2270
Amendment No. ___ Barcode 125598
1 that are exempt from federal income tax under s. 501(c)(3) of
2 the Internal Revenue Code, the number of policies issued,
3 premium volume written, types of underwriting restrictions
4 utilized, and the extent to which actual premiums charged vary
5 from standard rates, such as the use of excess rates pursuant
6 to section 627.171, Florida Statutes, and rate deviations
7 pursuant to section 627.211, Florida Statutes. The Office of
8 Insurance Regulation shall provide such related information to
9 the committee as is requested, and workers' compensation
10 insurers shall report such information to the office in the
11 manner and format specified by the office.
12 (2) The committee shall meet once each month,
13 beginning in August 2004, and shall provide interim reports to
14 the appointing officers on October 1, 2004, December 1, 2004,
15 and March 1, 2005, and at such additional times as the
16 President of the Senate and the Speaker of the House of
17 Representatives jointly require. Members of the committee
18 shall be entitled to reimbursement for travel and per diem
19 pursuant to section 112.061, Florida Statutes.
20 (3) If the Legislature determines that workers'
21 compensation coverage is not generally available and
22 affordable to small employers and organizations that are
23 exempt from federal income tax under s. 501(c)(3) of the
24 Internal Revenue Code in Florida, the Legislature intends to
25 create a state mutual fund as a nonprofit entity for the
26 benefit of its policyholders that are a small employer or an
27 organization that is exempt from the federal income tax under
28 s. 501(c)(3) of the Internal Revenue Code. The state mutual
29 fund would compete with private carriers and would be charged
30 with the public mission of customer service, quality loss
31 prevention, timely claims management, active fighting of
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SENATE AMENDMENT
Bill No. CS for CS for SB 2270
Amendment No. ___ Barcode 125598
1 fraud, and compassionate care for injured workers, at the
2 lowest cost consistent with actuarial sound rates. The fund
3 should primarily rely on an in-house staff of professional
4 employees, rather than contracting with servicing carriers. It
5 is further intended that the state appropriate adequate
6 initial capitalization for the fund and that the fund be
7 subject to the same financial and other requirements as apply
8 to an authorized insurer.
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