| 1 | Representative Troutman offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 221 and 222, insert: |
| 5 | Section 8. Subsection (7) is added to section 624.4095, |
| 6 | Florida Statutes, to read: |
| 7 | 624.4095 Premiums written; restrictions.-- |
| 8 | (7) For purposes of this section and s. 624.407, with |
| 9 | regard to capital and surplus required, gross written premiums |
| 10 | for federal multi-peril crop insurance that is ceded to the |
| 11 | Federal Crop Insurance Corporation and authorized reinsurers |
| 12 | shall not be included when calculating the insurer's gross |
| 13 | writing ratio. The liabilities for ceded reinsurance premiums |
| 14 | payable for federal multi-peril crop insurance ceded to the |
| 15 | Federal Crop Insurance Corporation and authorized reinsurers |
| 16 | shall be netted against the asset for amounts recoverable from |
| 17 | reinsurers. Each insurer that writes other insurance products |
| 18 | together with federal multi-peril crop insurance shall disclose |
| 19 | in the notes to the annual and quarterly financial statement, or |
| 20 | file a supplement to the financial statement that discloses, a |
| 21 | breakout of the gross written premiums for federal multi-peril |
| 22 | crop insurance. |
| 23 |
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| 24 | ----------------------------------------------------- |
| 25 | T I T L E A M E N D M E N T |
| 26 | Remove line 32 and insert: |
| 27 | agricultural products; amending s. 624.4095, F.S.; requiring |
| 28 | that gross written premiums for certain crop insurance not be |
| 29 | included when calculating the insurer's gross ratio; requiring |
| 30 | that liabilities for ceded reinsurance premiums be netted |
| 31 | against the asset for amounts recoverable from reinsurers; |
| 32 | requiring that insurers who write other insurance products to |
| 33 | disclose a breakout of the gross written premiums for crop |
| 34 | insurance; amending s. 823.145, F.S.; |