Florida Senate - 2006                        SENATOR AMENDMENT
    Bill No. CS for CS for SB 1980
                        Barcode 261984
                            CHAMBER ACTION
              Senate                               House
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       05/05/2006 12:38 PM         .                    
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11  Senator Atwater moved the following amendment to amendment
12  (021596):
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14         Senate Amendment (with title amendment) 
15         On page 65, line 15, after the period,
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17  insert:  For policies issued or renewed on or after March 1,
18  2007, a rate is deemed inadequate if the rate, including
19  investment income, is not sufficient to provide for the
20  procurement of coverage under the Florida Hurricane
21  Catastrophe Fund and private reinsurance costs, whether or not
22  reinsurance is procured, and to pay all claims and expenses
23  reasonably expected to result from a 70-year probable maximum
24  loss event with resort to any regular or emergency
25  assessments, long-term debt, state revenues, or other funding
26  sources. For policies issued or renewed in 2008 and 2009, the
27  rate must be based upon an 85-year and 100-year probable
28  maximum loss event, respectively.
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    10:06 AM   05/05/06                            s1980c2c-25-c2f


    Florida Senate - 2006                        SENATOR AMENDMENT
    Bill No. CS for CS for SB 1980
                        Barcode 261984
 1  ================ T I T L E   A M E N D M E N T ===============
 2  And the title is amended as follows:
 3         On page 134, line 2, after the semicolon,
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 5  insert:
 6         specifying circumstances under which a rate is
 7         deemed inadequate for certain policies;
 8         requiring the rate for certain policies to be
 9         based on certain loss events;
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    10:06 AM   05/05/06                            s1980c2c-25-c2f