Senate Bill sb1246

    Florida Senate - 2006                                  SB 1246

    By Senator Fasano





    11-320-06

  1                      A bill to be entitled

  2         An act relating to insurance; amending s.

  3         626.9541, F.S.; providing that an insurer's

  4         failure to offer in this state any kind or line

  5         of insurance which it offers in another

  6         jurisdiction constitutes an unfair method of

  7         competition and unfair or deceptive act;

  8         providing penalties; providing for rules;

  9         providing an effective date.

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11  Be It Enacted by the Legislature of the State of Florida:

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13         Section 1.  Paragraph (dd) is added to subsection (1)

14  of section 626.9541, Florida Statutes, to read:

15         626.9541  Unfair methods of competition and unfair or

16  deceptive acts or practices defined.--

17         (1)  UNFAIR METHODS OF COMPETITION AND UNFAIR OR

18  DECEPTIVE ACTS.--The following are defined as unfair methods

19  of competition and unfair or deceptive acts or practices:

20         (dd)  Selectively limiting insurance

21  offerings.--Failing to offer in this state a kind or line of

22  insurance which it offers in another jurisdiction. An insurer

23  need not offer every kind or line of insurance, or any

24  particular kind or line of insurance, in this state; however,

25  if it offers a particular kind or line of insurance anywhere

26  it does business, it must offer the same kind or line in this

27  state. The commission shall adopt rules to implement and

28  administer this paragraph.

29         Section 2.  This act shall take effect July 1, 2006.

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    Florida Senate - 2006                                  SB 1246
    11-320-06




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 2                          SENATE SUMMARY

 3    Provides that it is an unfair method of competition and
      unfair or deceptive act for an insurer to offer in this
 4    state fewer kinds or lines of insurance than it offers in
      all jurisdictions in which it does business. Requiring
 5    the Financial Services Commission to adopt rules.

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CODING: Words stricken are deletions; words underlined are additions.