Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. CS for SB 2036
       
       
       
       
       
       
                                Barcode 738868                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 8/AD/2R         .                                
             04/30/2009 05:01 PM       .                                
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       Senator Bennett moved the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 54 - 64
    4  and insert:
    5  than $500 million as calculated based on the information in the
    6  insurer’s most recent annual statement;
    7         2. The insurer has, at the time of issuance of the policy
    8  or at the time of first renewal at rates pursuant to s.
    9  627.062(2)(k), a surplus as to policyholders equal to or greater
   10  than $200 million and a ratio of net written premium to its
   11  surplus as to policyholders, as calculated based on the
   12  information in the insurer’s most recent annual statement, not
   13  exceeding two to one. For purposes of this subparagraph, the
   14  calculation of net written premium shall consider only
   15  reinsurance placed pursuant to s. 215.555(4) and with reinsurers
   16  or direct insurers that have been given a superior, excellent,
   17  exceptional, or equally comparable financial strength rating by
   18  a rating agency that is generally considered accurate or
   19  acceptable; or
   20         3. The insurer has, at the time of issuance of the policy
   21  or at the time of first renewal at rates pursuant to s.
   22  627.062(2)(k), a surplus as to policyholders equal to or greater
   23  than $150 million, as calculated based on the information in the
   24  insurer’s most recent annual statement, and is an insurer whose
   25  primary function is offering insurance as a service or member
   26  benefit to members of a nonprofit corporation.