| 1 | The Transportation & Economic Development Appropriations |
| 2 | Committee recommends the following: |
| 3 |
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| 4 | Council/Committee Substitute |
| 5 | Remove the entire bill and insert: |
| 6 | A bill to be entitled |
| 7 | An act relating to travel-limited life insurance coverage; |
| 8 | providing a short title; amending s. 626.9541, F.S.; |
| 9 | specifying prohibited activities by insurers for life |
| 10 | insurance coverage relating to lawful travel experiences |
| 11 | or plans; authorizing the Financial Services Commission to |
| 12 | adopt rules and provide certain limited exceptions based |
| 13 | on emergency conditions and public policy; providing an |
| 14 | effective date. |
| 15 |
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| 16 | Be It Enacted by the Legislature of the State of Florida: |
| 17 |
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| 18 | Section 1. This act may be cited as the "Freedom to Travel |
| 19 | Act." |
| 20 | Section 2. Paragraph (dd) is added to subsection (1) of |
| 21 | section 626.9541, Florida Statutes, to read: |
| 22 | 626.9541 Unfair methods of competition and unfair or |
| 23 | deceptive acts or practices defined.-- |
| 24 | (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE |
| 25 | ACTS.--The following are defined as unfair methods of |
| 26 | competition and unfair or deceptive acts or practices: |
| 27 | (dd) Life insurance limitations based on past foreign |
| 28 | travel experiences or future foreign travel plans.-- |
| 29 | 1. An insurer may not refuse life insurance to, refuse to |
| 30 | continue the life insurance of, or limit the amount, extent, or |
| 31 | kind of life insurance coverage available to an individual based |
| 32 | solely on the individual's past lawful foreign travel |
| 33 | experiences. |
| 34 | 2. An insurer may not refuse life insurance to, refuse to |
| 35 | continue the life insurance of, or limit the amount, extent, or |
| 36 | kind of life insurance coverage available to an individual based |
| 37 | solely on the individual's future lawful travel plans unless the |
| 38 | insurer can demonstrate, and the Office of Insurance Regulation |
| 39 | determines, that insureds who intend to travel are a separate |
| 40 | actuarially supportable class whose risk of loss is different |
| 41 | from those insureds who do not intend to travel. |
| 42 | 3. The commission may adopt rules pursuant to ss. |
| 43 | 120.536(1) and 120.54 necessary to implement this paragraph and |
| 44 | may provide for limited exceptions that are based upon national |
| 45 | or international emergency conditions that affect the public |
| 46 | health, safety, and welfare and that are consistent with public |
| 47 | policy. |
| 48 | Section 3. This act shall take effect July 1, 2006. |