| 1 | Representative Patterson offered the following: |
| 2 |
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| 3 | Substitute Amendment for Amendment (461875) |
| 4 | Remove lines 38-51 and insert: |
| 5 | insurer's most recent annual statement; |
| 6 | 2. The insurer has, at the time of issuance of the policy |
| 7 | or at the time of first renewal at rates pursuant to s. |
| 8 | 627.062(2)(k), a surplus as to policyholders equal to or greater |
| 9 | than $200 million and a ratio of net written premium to its |
| 10 | surplus as to policyholders, as calculated based on the |
| 11 | information in the insurer's most recent annual statement, not |
| 12 | exceeding two to one. For purposes of this subparagraph, the |
| 13 | calculation of net written premium shall consider only |
| 14 | reinsurance placed pursuant to s. 215.555(4) and with reinsurers |
| 15 | or direct insurers that have been given a financial strength |
| 16 | rating of "A-minus" or better by A.M. Best Company, or have been |
| 17 | given a comparable rating by another rating agency which is |
| 18 | generally considered accurate or acceptable; or |
| 19 | 3. The insurer has, at the time of issuance of the policy |
| 20 | or at the time of first renewal at rates pursuant to s. |
| 21 | 627.062(2)(k), a surplus as to policyholders equal to or greater |
| 22 | than $150 million, as calculated based on the information in the |
| 23 | insurer's most recent annual statement, and is an insurer whose |
| 24 | primary function is offering insurance as a service or member |
| 25 | benefit to members of a nonprofit corporation. |