Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1404
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       Senator Lee moved the following:
    1         Senate Amendment (with title amendment)
    3         Between lines 536 and 537
    4  insert:
    5         Section 13. Paragraph (a) of subsection (2) of section
    6  624.316, Florida Statutes, is amended to read:
    7         624.316 Examination of insurers.—
    8         (2)(a) Except as provided in paragraph (f), the office may
    9  examine each insurer, including affiliates, as often as may be
   10  warranted for the protection of the policyholders and in the
   11  public interest, and shall examine each domestic insurer not
   12  less frequently than once every 5 years. The examination shall
   13  cover the preceding 5 fiscal years of the insurer and shall be
   14  commenced within 12 months after the end of the most recent
   15  fiscal year being covered by the examination. The examination
   16  may cover any period of the insurer’s operations since the last
   17  previous examination. The examination may include examination of
   18  events subsequent to the end of the most recent fiscal year and
   19  the events of any prior period that affect the present financial
   20  condition of the insurer.
   21         Section 14. Section 626.7452, Florida Statutes, is amended
   22  to read:
   23         626.7452 Managing general agents; examination authority.
   24  The acts of the managing general agent are considered to be the
   25  acts of the insurer on whose behalf it is acting. A managing
   26  general agent may be examined as if it were the insurer except
   27  in the case where the managing general agent solely represents a
   28  single domestic insurer.
   30  ================= T I T L E  A M E N D M E N T ================
   31  And the title is amended as follows:
   32         Delete line 57
   33  and insert:
   34         providing construction; amending s. 624.316, F.S.;
   35         authorizing the Office of Insurance Regulation to
   36         examine affiliates of insurers; amending s. 626.7452,
   37         F.S.; deleting a limitation on the office’s authority
   38         to examine managing general agents; amending s.
   39         626.2815, F.S.;