| 1 | Representative Ambler offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 74 and 75, insert: |
| 5 | Section 2. (1) The Office of Insurance Regulation shall |
| 6 | order insurers writing any kind of liability insurance in this |
| 7 | state, including professional malpractice insurance, to make a |
| 8 | rate filing effective January 1, 2007, which reduces rates for |
| 9 | such insurance by a factor that reflects the expected impact of |
| 10 | the changes contained in this act. In the absence of clear and |
| 11 | convincing evidence to the contrary, it is presumed that the |
| 12 | expected impact of the act will result in at least a 10 percent |
| 13 | reduction in the rates in effect for such insurance on December |
| 14 | 31, 2006. In lieu of making the rate filing required in this |
| 15 | subsection, an insurer, upon notification to the Office of |
| 16 | Insurance Regulation, may implement a 10 percent reduction of |
| 17 | its rates, effective January 1, 2007. |
| 18 | (2) Any insurer or rating organization that contends in |
| 19 | the January 1, 2007, rate filing or any subsequent rate filing |
| 20 | made on or before December 31, 2012, that the presumed reduced |
| 21 | rate provided for in subsection (1) is excessive, inadequate, or |
| 22 | unfairly discriminatory shall separately state in the rate |
| 23 | filing the rate the insurer or rating organization contends is |
| 24 | appropriate and shall state with specificity the factors or data |
| 25 | that the insurer or rating organization contends should be |
| 26 | considered in order to produce such appropriate rate. The |
| 27 | insurer or rating organization shall be permitted to use all of |
| 28 | the generally accepted actuarial techniques as provided in s. |
| 29 | 627.062, Florida Statutes, in making any filing pursuant to this |
| 30 | subsection. The office shall review each such contended |
| 31 | appropriate rate and approve or disapprove such rate prior to |
| 32 | use. It is the insurer's burden to actuarially justify by clear |
| 33 | and convincing evidence any deviation which results in a rate |
| 34 | that is higher than the presumed reduced rate as provided for in |
| 35 | subsection (1). |
| 36 | (3) If any provision of this section is held invalid by a |
| 37 | court of competent jurisdiction, the office shall permit an |
| 38 | adjustment of all rates filed under this section to reflect the |
| 39 | impact of such holding on such rates, so as to ensure that the |
| 40 | rates are not excessive, inadequate, or unfairly discriminatory. |
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| 43 | ======= T I T L E A M E N D M E N T ======= |
| 44 | Remove line 5 and insert: |
| 45 | instead of joint and several liability; requiring liability |
| 46 | insurers to file certain reduced rate filings with the Office of |
| 47 | Insurance Regulation for review under certain circumstances; |
| 48 | authorizing liability insurers to file alternative rates under |
| 49 | certain circumstances; authorizing the Office of Insurance |
| 50 | Regulation to permit certain rate adjustments under certain |
| 51 | circumstances; providing |