Florida Senate - 2022                        COMMITTEE AMENDMENT
       Bill No. SB 186
       
       
       
       
       
       
                                Ì565560'Î565560                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RS            .                                
                  01/26/2022           .                                
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       The Committee on Banking and Insurance (Brandes) recommended the
       following:
       
    1         Senate Amendment to Amendment (154092) 
    2  
    3         Between lines 825 and 826
    4  insert:
    5         8. Premiums for coverage provided by the corporation for
    6  policies assumed from unsound insurers may not be discounted
    7  below the premiums established by the corporation for other
    8  policies pursuant to this paragraph at the time of the transfer
    9  and may not be reduced below the rate for the policy at the time
   10  the corporation assumed the policy until the policy’s third
   11  renewal. For purposes of this subparagraph, the term “unsound
   12  insurer” means an insurer determined by the Office of Insurance
   13  Regulation to be in unsound condition as defined in s. 624.80(2)
   14  or an insurer placed in receivership under chapter 631.