(LATE FILED)Amendment
Bill No. 7225
Amendment No. 499281
CHAMBER ACTION
Senate House
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1Representative(s) Ross offered the following:
2
3     Amendment to Amendment (074037)
4Between line(s) 48 and 49, insert:
5     5.  Notwithstanding any other provisions contained in this
6section, the board shall make available for the contract year
7beginning June 1, 2006, and the contract year beginning June 1,
82007, additional contracts to insurers, other than entities
9created pursuant to s. 627.351, which cede to the fund an amount
10of additional first-event liability up to $2.5 billion. This
11additional capacity shall be provided by the fund provided that:
12     a.  The layer of excess reinsurance provides coverage below
13the attachment point of the fund;
14     b.  At least 20 percent of the excess layer for each
15participating insurer utilizing this additional capacity is
16placed with independent reinsurers not related to the cedent;
17     c.  The fund provides coverage at the same terms and
18conditions as the independent reinsurers, not related to the
19cedent; and
20     d.  The fund receives 100 percent of the gross reinsurance
21premium for its participation without deduction for reinsurance
22brokerage.
23
24The fund may provide additional coverage for a second event on
25the same terms and conditions as provided by the independent
26reinsurers not related to the cedent. This coverage shall be in
27addition to all other coverage which may be provided under this
28section. This subparagraph shall expire May 31, 2008.


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