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Glossary of Legislative Terms

CS/CS/SB 1308: Insurer Solvency

GENERAL BILL by Judiciary ; Banking and Insurance ; Simmons

Insurer Solvency; Providing additional definitions applicable to the Florida Insurance Code; clarifying that production of documents does not waive the attorney-client or work-product privileges; requiring an insurer’s annual statement to include an actuarial opinion summary; revising the Standard Valuation Law and the Standard Nonforfeiture Law; providing for the groupwide supervision of international insurance groups, etc.

Effective Date: Except as otherwise expressly provided in this act, this act shall take effect October 1, 2014
 Last Action: 6/13/2014 - Chapter No. 2014-101, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Judiciary (JU)
  3. Rules (RC)

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  • Bill History

    Date Chamber Action
    2/26/2014 Senate • Filed
    3/4/2014 Senate • Referred to Banking and Insurance; Judiciary; Rules -SJ 106
    • Introduced -SJ 106
    3/6/2014 Senate • On Committee agenda-- Banking and Insurance, 03/11/14, 4:00 pm, 110 Senate Office Building
    3/11/2014 Senate • CS by Banking and Insurance; YEAS 9 NAYS 0 -SJ 243
    3/13/2014 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    3/17/2014 Senate • Now in Judiciary -SJ 243
    • CS by Banking and Insurance read 1st time -SJ 254
    3/20/2014 Senate • On Committee agenda-- Judiciary, 03/25/14, 9:00 am, 110 Senate Office Building
    3/25/2014 Senate • CS/CS by Judiciary; YEAS 9 NAYS 0 -SJ 336
    3/26/2014 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • CS/CS by Judiciary read 1st time -SJ 348
    3/27/2014 Senate • Now in Rules -SJ 336
    3/28/2014 Senate • On Committee agenda-- Rules, 04/02/14, 4:00 pm, 110 Senate Office Building --Not Considered
    4/4/2014 Senate • On Committee agenda-- Rules, 04/09/14, 4:00 pm, 110 Senate Office Building
    4/9/2014 Senate • Favorable by- Rules; YEAS 13 NAYS 0 -SJ 459
    4/10/2014 Senate • Placed on Calendar, on 2nd reading -SJ 459
    4/11/2014 Senate • Placed on Special Order Calendar, 04/23/14
    4/23/2014 Senate • Read 2nd time -SJ 537
    • Placed on 3rd reading
    4/24/2014 Senate • Read 3rd time -SJ 614
    • CS passed; YEAS 37 NAYS 0 -SJ 614
    4/25/2014 House • In Messages
    4/28/2014 House • Referred to Calendar -HJ 831
    • Placed on Special Order Calendar, 04/29/14
    • Received -HJ 830
    4/29/2014 House • Read 2nd time -HJ 853
    • Substituted for CS/CS/HB 1271 -HJ 853
    • Placed on 3rd reading
    4/30/2014 House • Read 3rd time -HJ 894
    • CS passed; YEAS 112 NAYS 1 -HJ 895
    4/30/2014 Senate • Ordered enrolled -SJ 880
    6/5/2014 • Signed by Officers and presented to Governor
    6/13/2014 • Approved by Governor
    • Chapter No. 2014-101, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100)

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  • CS/CS/SB 1308, Enrolled (Current Bill Version) Posted 4/30/2014 at 3:44 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1300 (er) Public Records/Office of Insurance Regulation Simmons Linked Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill
    H 1271 (c2) Insurer Solvency Ingram Similar Last Action: 4/29/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853
    Location: Laid on Table     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (e1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    H 1273 (c2) Pub. Rec./Proprietary Business Information/OIR Ingram Compare Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1260 (c2) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 6 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 7 (pdf)
    624.424 Annual statement and other information. Page 10 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 13 (pdf)
    625.1212 Page 29 (pdf)
    625.1214 Page 38 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 39 (pdf)
    628.461 Acquisition of controlling stock. Page 43 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 50 (pdf)
    628.803 Sanctions. Page 54 (pdf)
    628.804 Page 54 (pdf)
    628.805 Page 55 (pdf)
    636.045 Minimum surplus requirements. Page 57 (pdf)
    641.225 Surplus requirements. Page 57 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 57 (pdf)

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  • CS/CS/SB 1308, Committee Substitute 2 Posted 4/21/2014 at 4:04 PM

    Bill Text:   Web Page | PDF
    Analyses:   Rules (Pre-Meeting) 4/8/2014 (pdf)
    Rules (Post-Meeting) 4/9/2014 (pdf)

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1300 (er) Public Records/Office of Insurance Regulation Simmons Linked Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill
    H 1271 (c2) Insurer Solvency Ingram Similar Last Action: 4/29/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853
    Location: Laid on Table     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (e1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    H 1273 (c2) Pub. Rec./Proprietary Business Information/OIR Ingram Compare Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1260 (c2) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Committee Votes (1)

    Date Committee Result
    4/9/2014 4:00 PM Rules 13 Yeas - 0 Nays

    Floor Votes (2)

    Date Chamber Result
    4/24/2014 5:12 PM Senate 37 Yeas - 0 Nays
    4/30/2014 2:40 PM House 112 Yeas - 1 Nays

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 6 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 7 (pdf)
    624.424 Annual statement and other information. Page 10 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 13 (pdf)
    625.1212 Page 29 (pdf)
    625.1214 Page 38 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 39 (pdf)
    628.461 Acquisition of controlling stock. Page 43 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 50 (pdf)
    628.803 Sanctions. Page 54 (pdf)
    628.804 Page 54 (pdf)
    628.805 Page 55 (pdf)
    636.045 Minimum surplus requirements. Page 57 (pdf)
    641.225 Surplus requirements. Page 57 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 57 (pdf)

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  • CS/SB 1308, Committee Substitute 1 Posted 3/13/2014 at 2:58 PM

    Bill Text:   Web Page | PDF
    Analyses:   Judiciary (Pre-Meeting) 3/24/2014 (pdf)
    Judiciary (Post-Meeting) 3/26/2014 (pdf)

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1300 (c1) Public Records/Office of Insurance Regulation Simmons Linked Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill
    H 1271 (c1) Insurer Solvency Ingram Similar Last Action: 4/29/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853
    Location: Laid on Table     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (c2) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    H 1273 (c1) Pub. Rec./Proprietary Business Information/OIR Ingram Compare Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1260 (c1) Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    774566 - Amendment
    Delete line 311 and insert:     		Judiciary
    (Richter)     		3/24/2014
    12:52 PM     		Replaced by Committee Substitute
    3/26/2014     		Web Page
    PDF
    381568 - Amendment
    Delete lines 1365 - 1371 and insert:     		Judiciary
    (Richter)     		3/24/2014
    12:52 PM     		Replaced by Committee Substitute
    3/26/2014     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/25/2014 9:00 AM Judiciary 9 Yeas - 0 Nays

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 6 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 7 (pdf)
    624.424 Annual statement and other information. Page 10 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 13 (pdf)
    625.1212 Page 29 (pdf)
    625.1214 Page 38 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 39 (pdf)
    628.461 Acquisition of controlling stock. Page 43 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 50 (pdf)
    628.803 Sanctions. Page 54 (pdf)
    628.804 Page 54 (pdf)
    628.805 Page 55 (pdf)
    636.045 Minimum surplus requirements. Page 57 (pdf)
    641.225 Surplus requirements. Page 57 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 57 (pdf)

    Top of SectionTop of Page

  • SB 1308, Original Filed Version Posted 2/26/2014 at 8:45 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 3/10/2014 (pdf)
    Banking and Insurance (Post-Meeting) 3/13/2014 (pdf)

    Related Bills (6)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1300 (c1) Public Records/Office of Insurance Regulation Simmons Linked Last Action: 6/13/2014 Chapter No. 2014-100, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101)
    Location: Became Law     		Track This Bill
    H 1271 Insurer Solvency Ingram Similar Last Action: 4/29/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1300 (Ch. 2014-100) -HJ 853
    Location: Laid on Table     		Track This Bill
    H 471 Insurance Boyd Compare Last Action: 1/8/2014 H Withdrawn prior to introduction, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -HJ 40
    Location: Withdrawn from consideration     		Track This Bill
    H 565 (c1) Insurance Santiago Compare Last Action: 5/2/2014 S Died in returning Messages, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104)
    Location: In returning messages from House     		Track This Bill
    H 1273 Pub. Rec./Proprietary Business Information/OIR Ingram Compare Last Action: 4/28/2014 H Laid on Table, companion bill(s) passed, see CS/CS/SB 1300 (Ch. 2014-100), CS/CS/SB 1308 (Ch. 2014-101) -HJ 809
    Location: Laid on Table     		Track This Bill
    S 1260 Insurance Brandes Compare Last Action: 5/1/2014 S Laid on Table, companion bill(s) passed, see HB 291 (Ch. 2014-111), CS/CS/HB 321 (Ch. 2014-112), CS/CS/HB 633 (Ch. 2014-123), CS/HB 785 (Ch. 2014-131), CS/CS/HB 7005 (Ch. 2014-216), CS/CS/CS/SB 542 (Ch. 2014-80), CS/CS/SB 708 (Ch. 2014-86), CS/CS/SB 1308 (Ch. 2014-101), CS/CS/SB 1344 (Ch. 2014-103), CS/CS/SB 1672 (Ch. 2014-104) -SJ 913
    Location: Laid on Table     		Track This Bill

    Committee Amendments (6)

    Amendment Sponsor Filed Last Committee Action Format
    416922 - Amendment
    Delete line 324 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:48 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF
    919650 - Amendment
    Delete lines 523 - 554 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:48 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF
    510388 - Amendment
    Delete lines 843 - 847 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:36 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF
    208360 - Amendment
    Delete line 1360 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:36 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF
    605142 - Amendment
    Delete lines 1435 - 1438 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:48 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF
    277336 - Amendment
    Delete line 1647 and insert:     		Banking and Insurance
    (Simmons)     		3/10/2014
    2:37 PM     		Replaced by Committee Substitute
    3/11/2014     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/11/2014 4:00 PM Banking and Insurance 9 Yeas - 0 Nays

    Citations - Statutes (17)

    Citation Catchline Location in Bill Location In Bill Help
    624.10 Transacting insurance. Page 4 (pdf)
    624.319 Examination and investigation reports. Page 6 (pdf)
    624.402 Exceptions, certificate of authority required. Page 6 (pdf)
    624.4085 Risk-based capital requirements for insurers. Page 7 (pdf)
    624.424 Annual statement and other information. Page 10 (pdf)
    625.121 Standard Valuation Law; life insurance. Page 13 (pdf)
    625.1212 Page 29 (pdf)
    625.1214 Page 38 (pdf)
    627.476 Standard Nonforfeiture Law for Life Insurance. Page 39 (pdf)
    628.461 Acquisition of controlling stock. Page 43 (pdf)
    628.801 Insurance holding companies; registration; regulation. Page 50 (pdf)
    628.803 Sanctions. Page 53 (pdf)
    628.804 Page 54 (pdf)
    628.805 Page 55 (pdf)
    636.045 Minimum surplus requirements. Page 57 (pdf)
    641.225 Surplus requirements. Page 57 (pdf)
    641.255 Acquisition, merger, or consolidation. Page 57 (pdf)

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