Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. PCS for SB 1488 (060960)
                        Barcode 785302
                            CHAMBER ACTION
              Senate                               House
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11  The Committee on Banking and Insurance (Alexander) recommended
12  the following amendment:
13  
14         Senate Amendment (with title amendment) 
15         On page 7, between lines 16 and 17,
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17  insert:  
18         (7)  ADDITIONAL POWERS AND DUTIES.--
19         (a)  The board may procure reinsurance from reinsurers
20  acceptable to the Office of Insurance Regulation for the
21  purpose of maximizing the capacity of the fund. The board
22  shall procure reinsurance or similar financing that fully
23  transfers the risk of the obligation to reimburse insurers
24  between $10 billion and $15 billion for the 2005 contract year
25  and, for subsequent years, that fully transfers the risk of
26  the obligation to reimburse insurers for the top $5 billion in
27  reimbursement capacity.
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30  ================ T I T L E   A M E N D M E N T ===============
31  And the title is amended as follows:
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    2:18 PM   04/04/05                             s1488c-bi17-c3r

Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. PCS for SB 1488 (060960) Barcode 785302 1 On page 1, line 6, after the first semicolon, 2 3 insert: 4 requiring the State Board of Administration to 5 purchase reinsurance for the fund; 6 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 2 2:18 PM 04/04/05 s1488c-bi17-c3r