Florida Senate - 2008 SENATOR AMENDMENT
Bill No. CS for CS for SB's 2860 & 1196
220964
Senate
Floor: 3/F/2R
4/10/2008 10:38 AM
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House
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Senator Lawson moved the following amendment:
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Senate Amendment (with title amendment)
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Delete line(s) 497-551
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and insert:
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Section 4. Subsections (2) and (3) of section 624.4211,
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Florida Statutes, are amended to read:
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624.4211 Administrative fine in lieu of suspension or
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revocation.--
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(2) With respect to any nonwillful violation, such fine may
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shall not exceed $5,000 $2,500 per violation. In no event shall
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such fine exceed an aggregate amount of $20,000 $10,000 for all
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nonwillful violations arising out of the same action. If When an
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insurer discovers a nonwillful violation, the insurer shall
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correct the violation and, if restitution is due, make
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restitution to all affected persons. Such restitution shall
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include interest at 12 percent per year from either the date of
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the violation or the date of inception of the affected person's
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policy, at the insurer's option. The restitution may be a credit
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against future premiums due provided that the interest
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accumulates shall accumulate until the premiums are due. If the
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amount of restitution due to any person is $50 or more and the
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insurer wishes to credit it against future premiums, it shall
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notify such person that she or he may receive a check instead of
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a credit. If the credit is on a policy that which is not renewed,
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the insurer shall pay the restitution to the person to whom it is
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due.
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(3) With respect to any knowing and willful violation of a
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lawful order or rule of the office or commission or a provision
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of this code, the office may impose a fine upon the insurer in an
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amount not to exceed $40,000 $20,000 for each such violation. In
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no event shall such fine exceed an aggregate amount of $200,000
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$100,000 for all knowing and willful violations arising out of
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the same action. In addition to such fines, the such insurer
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shall make restitution when due in accordance with the provisions
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of subsection (2).
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================ T I T L E A M E N D M E N T ================
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And the title is amended as follows:
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Delete line(s) 40-45
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and insert:
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by the Office of Insurance Regulation for nonwillful and
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willful violations of an order or rule of the office or
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any provision of the Florida Insurance Code; creating s.
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624.4213,
4/9/2008 4:43:00 PM 6-07172-08
CODING: Words stricken are deletions; words underlined are additions.