Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. PCS for SB 1980 (070118)
Barcode 613708
CHAMBER ACTION
Senate House
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04/10/2006 01:27 PM .
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11 The Committee on Banking and Insurance (Baker) recommended the
12 following amendment:
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14 Senate Amendment (with title amendment)
15 On page 82, between lines 27 and 28,
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17 insert:
18 (bb) By February 1, 2007, the corporation shall submit
19 a report to the President of the Senate, the Speaker of the
20 House of Representatives, the minority party leaders of the
21 Senate and the House of Representatives, and the chairs of the
22 standing committees of the Senate and the House of
23 Representatives having jurisdiction over matters relating to
24 property and casualty insurance. In preparing the report, the
25 corporation shall consult with the Office of Insurance
26 Regulation, the Department of Financial Services, and any
27 other party the corporation determines appropriate. The report
28 must include all findings and recommendations on the
29 feasibility of requiring authorized insurers that issue and
30 service personal and commercial residential policies and
31 commercial nonresidential policies that provide coverage for
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6:21 PM 04/06/06 s1980c-bi20-e0d
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. PCS for SB 1980 (070118)
Barcode 613708
1 basic property perils except for the peril of wind to issue
2 and service for a fee personal and commercial residential
3 policies and commercial nonresidential policies providing
4 coverage for the peril of wind issued by the corporation. The
5 report must include:
6 1. The expense savings to the corporation of issuing
7 and servicing such policies as determined by a cost-benefit
8 analysis.
9 2. The expenses and liability to authorized insurers
10 associated with issuing and servicing such policies.
11 3. The effect on service to policyholders of the
12 corporation relating to issuing and servicing such policies.
13 4. The effect on the producing agent of the
14 corporation of issuing and servicing such policies.
15 5. Recommendations as to the amount of the fee which
16 should be paid to authorized insurers for issuing and
17 servicing such policies.
18 6. The effect that issuing and servicing such policies
19 will have on the corporation's number of policies, total
20 insured value, and probable maximum loss.
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24 And the title is amended as follows:
25 On page 4, line 29, after the first semicolon,
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27 insert:
28 requiring a study of the viability of
29 authorized insurers' issuing and servicing, for
30 a fee, certain high-risk insurance policies;
31 requiring a report to legislative leaders;
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