Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 2498
Barcode 600158
CHAMBER ACTION
Senate House
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05/01/2007 02:33 PM .
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11 Senator Fasano moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 22, line 31,
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16 insert:
17 Section 3. Subsection (18) is added to section
18 215.555, Florida Statutes, as amended by section 2 of chapter
19 2007-1, Laws of Florida, to read:
20 215.555 Florida Hurricane Catastrophe Fund.--
21 (18) CERTAIN INSURERS; ELIGIBILITY.--
22 (a) An insurer issuing personal lines residential and
23 commercial property policies in this state who is otherwise
24 eligible for coverage under the Florida Hurricane Catastrophe
25 Fund is eligible only for the level of coverage under such
26 fund as was available during the contract year ending May 31,
27 2006, if during the period of January 1, 2005, through
28 December 31, 2007, such insurer nonrenews 5 percent or more of
29 its personal lines residential policies in this state, 5
30 percent or more of its personal lines commercial policies in
31 this state, 10 percent or more of its personal lines
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Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 2498
Barcode 600158
1 residential policies in any one territory in this state, or 10
2 percent or more of its personal lines commercial policies in
3 any one territory in this state.
4 (b) An insurer writing personal lines residential and
5 commercial property policies in this state who is otherwise
6 eligible for coverage under the Florida Hurricane Catastrophe
7 Fund is eligible only for the level of coverage under such
8 fund as was available during the contract year ending May 31,
9 2006, if during the period of January 1, 2007, through
10 December 31, 2008, such insurer:
11 1. Nonrenews 5 percent or more of its personal lines
12 residential policies in this state, 5 percent or more of its
13 personal lines commercial policies in this state, 10 percent
14 or more of its personal lines residential policies in any one
15 territory in this state, or 10 percent or more of its personal
16 lines commercial policies in any one territory in this state;
17 or
18 2. Files a withdrawal plan with the Office of
19 Insurance Regulation.
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21 (Redesignate subsequent sections.)
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24 ================ T I T L E A M E N D M E N T ===============
25 And the title is amended as follows:
26 On page 1, line 14, after the semicolon,
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28 insert:
29 amending s. 215.555, F.S.; specifying criteria
30 concerning the level of funding from the
31 Florida Hurricane Catastrophe Fund for which
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Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 2498
Barcode 600158
1 certain insurers are eligible;
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