CS/HB 1023: Insolvent Insurers
GENERAL BILL by Commerce Committee ; Fabricio
Insolvent Insurers; Provides required factors to be used in determination & fixing of rates for premiums paid to insolvent insurers for specified coverages; authorizes insurers to elect not to recoup advance assessments paid to Florida Insurance Guaranty Association, Incorporated; provides calculations of insurers' assets under specified circumstances; revises provisions relating to payments of assessments & insurers' reconciliation reports to association; requires insurers to pay assessments to association, rather than to collect such assessments; specifies payments that certain insurers must make to association; requires insurers to treat insureds' failure to pay surcharges, rather than recoupment charges, as failure to pay premiums; provides that insurers are liable for surcharges & are not liable for uncollectible surcharges; removes requirement that insurers treat insureds' failure to pay emergency assessments as failure to pay premiums; revises provisions relating to insurers' collection of surcharges & payments of assessments to Florida Workers' Compensation Insurance Guaranty Association, Incorporated.
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Bill History
Date Chamber Action 12/27/2021 House • Filed
1/7/2022 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/11/2022 House • 1st Reading (Original Filed Version)
1/25/2022 House • Added to Insurance & Banking Subcommittee agenda
1/27/2022 House • Favorable by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
2/4/2022 House • Added to State Administration & Technology Appropriations Subcommittee agenda
2/8/2022 House • Favorable by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Now in Commerce Committee
2/15/2022 House • Added to Commerce Committee agenda
2/17/2022 House • Favorable with CS by Commerce Committee
• Reported out of Commerce Committee
• Laid on Table under Rule 7.18(a)
• CS Filed
• 1st Reading (Committee Substitute 1)
2/18/2022 House • Bill referred to House Calendar
• Added to Second Reading Calendar
2/24/2022 House • Bill added to Special Order Calendar (3/1/2022)
3/1/2022 House • Read 2nd time
• Placed on 3rd reading
• Added to Third Reading Calendar
3/2/2022 House • Read 3rd time
• CS passed; YEAS 116, NAYS 0
3/2/2022 Senate • In Messages
• Referred to Appropriations -SJ 537
• Received -SJ 537
3/4/2022 Senate • Withdrawn from Appropriations -SJ 665
• Placed on Calendar, on 2nd reading
• Substituted for CS/CS/SB 1430 -SJ 665
• Read 2nd time -SJ 665
• Read 3rd time -SJ 665
• CS passed; YEAS 36 NAYS 0 -SJ 665
3/4/2022 House • In Messages
• Ordered enrolled
5/20/2022 • Signed by Officers and presented to Governor
5/25/2022 • Approved by Governor
5/26/2022 • Chapter No. 2022-139
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CS/HB 1023, Enrolled (Current Bill Version) Posted 3/4/2022 at 3:24 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1430 (c2) Insolvent Insurers Burgess Similar Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665 
Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 627.072 Making and use of rates. Page 2 (pdf) 631.57 Powers and duties of the association. Page 2 (pdf) 631.914 Assessments. Page 8 (pdf) -
CS/HB 1023, Committee Substitute 1 Posted 2/17/2022 at 6:10 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1430 (c2) Insolvent Insurers Burgess Similar Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665
Floor Votes (2)
Date Chamber Result 3/2/2022 5:50 PM House 116 Yeas - 0 Nays 3/4/2022 2:11 PM Senate 36 Yeas - 0 Nays Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 627.072 Making and use of rates. Page 2 (pdf) 631.57 Powers and duties of the association. Page 2 (pdf) 631.914 Assessments. Page 8 (pdf) -
HB 1023, Original Filed Version Posted 12/27/2021 at 10:00 AM
Bill Text: PDF Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1430 (c1) Insolvent Insurers Burgess Identical Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 557425 - Amendment
Remove lines 71-160 and insert:Fabricio 2/16/2022
5:35 PMAdopted without Objection
2/17/2022PDF Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 627.072 Making and use of rates. Page 2 (pdf) 631.57 Powers and duties of the association. Page 2 (pdf) 631.914 Assessments. Page 8 (pdf)