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CS/SB 7052: Insurer Accountability

GENERAL BILL by Fiscal Policy ; Banking and Insurance

Insurer Accountability; Specifying a requirement for the Office of Insurance Regulation in referring criminal violations; authorizing electronic responses to certain requests from the Division of Consumer Services of the Department of Financial Services concerning consumer complaints; revising requirements and conditions for certain insurer market conduct examinations after a hurricane; specifying factors the office may consider in determining whether the continued operation of an insurer may be deemed to be hazardous to its policyholders or creditors or to the general public; revising and specifying applicable fines for unfair methods of competition and unfair or deceptive acts or practices, etc. APPROPRIATION: $3,171,718

Effective Date: 7/1/2023
 Last Action: 6/1/2023 - Chapter No. 2023-172
Bill Text: Web Page | PDF
Senate Committee References:
  1. Fiscal Policy (FP)

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  • Bill History

    Date Chamber Action
    3/31/2023 Senate • Submitted for consideration by Banking and Insurance
    • On Committee agenda-- Banking and Insurance, 04/05/23, 8:30 am, 412 Knott Building
    4/5/2023 Senate • Submitted as Committee Bill and Reported Favorably by Banking and Insurance; YEAS 8 NAYS 0
    • Filed
    4/6/2023 Senate • Referred to Fiscal Policy
    4/11/2023 Senate • Introduced
    4/17/2023 Senate • On Committee agenda-- Fiscal Policy, 04/20/23, 9:30 am, 412 Knott Building
    4/20/2023 Senate • CS by- Fiscal Policy; YEAS 14 NAYS 1
    4/24/2023 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
    • Placed on Calendar, on 2nd reading
    • Placed on Special Order Calendar, 04/26/23
    4/25/2023 Senate • CS by Fiscal Policy read 1st time
    4/26/2023 Senate • Read 2nd time -SJ 504
    • Amendment(s) adopted (543692) -SJ 515
    • Read 3rd time -SJ 515
    • CS passed as amended; YEAS 39 NAYS 0 -SJ 515
    4/26/2023 House • In Messages
    5/1/2023 House • Bill referred to House Calendar
    • Bill added to Special Order Calendar (5/2/2023)
    • 1st Reading (Engrossed 1)
    5/2/2023 House • Read 2nd time
    • Placed on 3rd reading
    • Added to Third Reading Calendar
    5/3/2023 House • Read 3rd time
    • CS passed; YEAS 113, NAYS 0
    5/3/2023 Senate • Ordered enrolled
    5/16/2023 • Signed by Officers and presented to Governor
    5/31/2023 • Approved by Governor
    6/1/2023 • Chapter No. 2023-172

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  • CS/SB 7052, Enrolled (Current Bill Version) Posted 5/4/2023 at 10:11 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 7065 (c1) Insurer Accountability Appropriations Committee Similar Last Action: 5/2/2023 H Laid on Table; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    H 1431 Insurance Roach Compare Last Action: 5/5/2023 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    S 1340 Insurance Grall Compare Last Action: 5/5/2023 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill

    Citations - Statutes (22)

    Citation Catchline Location in Bill Location In Bill Help
    624.115 Page 5 (pdf)
    624.307 General powers; duties. Page 5 (pdf)
    624.315 Annual report. Page 6 (pdf)
    624.316 Examination of insurers. Page 7 (pdf)
    624.3161 Market conduct examinations. Page 10 (pdf)
    624.4211 Administrative fine in lieu of suspension or revocation. Page 17 (pdf)
    624.4301 Page 19 (pdf)
    624.805 Page 20 (pdf)
    624.81 Notice to comply with written requirements of office; noncompliance. Page 26 (pdf)
    624.865 Page 27 (pdf)
    626.207 Disqualification of applicants and licensees; penalties against licensees; rulemaking authority. Page 31 (pdf)
    626.9521 Unfair methods of competition and unfair or deceptive acts or practices prohibited; penalties. Page 32 (pdf)
    626.9541 Unfair methods of competition and unfair or deceptive acts or practices defined. Page 34 (pdf)
    626.989 Investigation by department or Division of Investigative and Forensic Services; compliance; immunity; confidential information; reports to division; division investigator’s power of arrest. Page 37 (pdf)
    627.0629 Residential property insurance; rate filings. Page 40 (pdf)
    627.351 Insurance risk apportionment plans. Page 42 (pdf)
    627.410 Filing, approval of forms. Page 42 (pdf)
    627.4108 Page 43 (pdf)
    627.4133 Notice of cancellation, nonrenewal, or renewal premium. Page 45 (pdf)
    627.701 Liability of insureds; coinsurance; deductibles. Page 47 (pdf)
    627.70132 Notice of property insurance claim. Page 49 (pdf)
    628.8015 Own-risk and solvency assessment; corporate governance annual disclosure. Page 27 (pdf)

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  • CS/SB 7052, Engrossed 1 Posted 4/26/2023 at 5:25 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 7065 (c1) Insurer Accountability Appropriations Committee Similar Last Action: 5/2/2023 H Laid on Table; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    H 1431 Insurance Roach Compare Last Action: 5/5/2023 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    S 1340 Insurance Grall Compare Last Action: 5/5/2023 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill

    Floor Amendments (1)

    Amendment Sponsor Filed Last Floor Action Format
    391489 - Strike All Amendment
    Remove everything after the enacting clause and insert:     		Duggan 5/2/2023
    7:54 AM     		House: Withdrawn
    5/2/2023     		PDF

    Floor Votes (1)

    Date Chamber Result
    5/3/2023 11:06 AM House 113 Yeas - 0 Nays

    Citations - Statutes (22)

    Citation Catchline Location in Bill Location In Bill Help
    624.115 Page 5 (pdf)
    624.307 General powers; duties. Page 5 (pdf)
    624.315 Annual report. Page 6 (pdf)
    624.316 Examination of insurers. Page 7 (pdf)
    624.3161 Market conduct examinations. Page 10 (pdf)
    624.4211 Administrative fine in lieu of suspension or revocation. Page 17 (pdf)
    624.4301 Page 19 (pdf)
    624.805 Page 20 (pdf)
    624.81 Notice to comply with written requirements of office; noncompliance. Page 26 (pdf)
    624.865 Page 27 (pdf)
    626.207 Disqualification of applicants and licensees; penalties against licensees; rulemaking authority. Page 31 (pdf)
    626.9521 Unfair methods of competition and unfair or deceptive acts or practices prohibited; penalties. Page 32 (pdf)
    626.9541 Unfair methods of competition and unfair or deceptive acts or practices defined. Page 34 (pdf)
    626.989 Investigation by department or Division of Investigative and Forensic Services; compliance; immunity; confidential information; reports to division; division investigator’s power of arrest. Page 37 (pdf)
    627.0629 Residential property insurance; rate filings. Page 40 (pdf)
    627.351 Insurance risk apportionment plans. Page 42 (pdf)
    627.410 Filing, approval of forms. Page 42 (pdf)
    627.4108 Page 43 (pdf)
    627.4133 Notice of cancellation, nonrenewal, or renewal premium. Page 45 (pdf)
    627.701 Liability of insureds; coinsurance; deductibles. Page 47 (pdf)
    627.70132 Notice of property insurance claim. Page 49 (pdf)
    628.8015 Own-risk and solvency assessment; corporate governance annual disclosure. Page 27 (pdf)

    Citations - Chapter Law (4)

    Chapter Law Section Amended Location in Bill Location In Bill Help
    2021-77
    2022-268
    2022-271
    2023-15

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  • CS/SB 7052, Committee Substitute 1 Posted 4/24/2023 at 11:47 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 7065 (c1) Insurer Accountability Appropriations Committee Similar Last Action: 5/2/2023 H Laid on Table; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    H 1431 Insurance Roach Compare Last Action: 5/5/2023 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    S 1340 Insurance Grall Compare Last Action: 5/5/2023 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill

    Floor Amendments (2)

    Amendment Sponsor Filed Last Floor Action Format
    543692 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Hutson 4/25/2023
    1:52 PM     		Senate: Adopted
    4/26/2023     		Web Page
    PDF
    hierarchy 697804 - Amendment to Amendment (543692)
    Delete line 553 and insert:     		Hutson 4/25/2023
    4:40 PM     		Senate: Adopted
    4/26/2023     		Web Page
    PDF

    Floor Votes (1)

    Date Chamber Result
    4/26/2023 5:12 PM Senate 39 Yeas - 0 Nays

    Citations - Statutes (22)

    Citation Catchline Location in Bill Location In Bill Help
    624.307 General powers; duties. Page 4 (pdf)
    624.315 Annual report. Page 5 (pdf)
    624.316 Examination of insurers. Page 7 (pdf)
    624.3161 Market conduct examinations. Page 8 (pdf)
    624.4211 Administrative fine in lieu of suspension or revocation. Page 11 (pdf)
    624.4301 Page 13 (pdf)
    624.805 Page 14 (pdf)
    624.81 Notice to comply with written requirements of office; noncompliance. Page 20 (pdf)
    624.865 Page 20 (pdf)
    626.207 Disqualification of applicants and licensees; penalties against licensees; rulemaking authority. Page 25 (pdf)
    626.9521 Unfair methods of competition and unfair or deceptive acts or practices prohibited; penalties. Page 26 (pdf)
    626.9541 Unfair methods of competition and unfair or deceptive acts or practices defined. Page 27 (pdf)
    626.989 Investigation by department or Division of Investigative and Forensic Services; compliance; immunity; confidential information; reports to division; division investigator’s power of arrest. Page 31 (pdf)
    627.0629 Residential property insurance; rate filings. Page 34 (pdf)
    627.351 Insurance risk apportionment plans. Page 36 (pdf)
    627.410 Filing, approval of forms. Page 36 (pdf)
    627.4108 Page 37 (pdf)
    627.4133 Notice of cancellation, nonrenewal, or renewal premium. Page 39 (pdf)
    627.426 Claims administration. Page 41 (pdf)
    627.701 Liability of insureds; coinsurance; deductibles. Page 47 (pdf)
    627.70132 Notice of property insurance claim. Page 48 (pdf)
    628.8015 Own-risk and solvency assessment; corporate governance annual disclosure. Page 21 (pdf)

    Citations - Chapter Law (4)

    Chapter Law Section Amended Location in Bill Location In Bill Help
    2021-77
    2022-268
    2022-271
    2023-15

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  • SB 7052, Original Filed Version Posted 4/5/2023 at 3:02 PM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Post-Meeting) 4/5/2023 (pdf)
    Fiscal Policy (Pre-Meeting) 4/19/2023 (pdf)
    Fiscal Policy (Post-Meeting) 4/24/2023 (pdf)

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1431 Insurance Roach Compare Last Action: 5/5/2023 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    H 7065 Insurer Accountability Appropriations Committee Compare Last Action: 5/2/2023 H Laid on Table; companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill
    S 1340 Insurance Grall Compare Last Action: 5/5/2023 S Died in Banking and Insurance, companion bill(s) passed, see CS/SB 7052 (Ch. 2023-172) Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    592450 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Fiscal Policy
    (Hutson)     		4/19/2023
    8:48 AM     		Replaced by Substitute Amendment
    4/21/2023     		Web Page
    PDF
    hierarchy 451290 - Substitute Amendment (Delete All) (592450)
    Delete everything after the enacting clause and insert:     		Fiscal Policy
    (Hutson)     		4/19/2023
    4:04 PM     		Replaced by Committee Substitute
    4/21/2023     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/20/2023 9:30 AM Fiscal Policy 14 Yeas - 1 Nays

    Citations - Statutes (23)

    Citation Catchline Location in Bill Location In Bill Help
    624.307 General powers; duties. Page 5 (pdf)
    624.315 Annual report. Page 5 (pdf)
    624.3152 Page 6 (pdf)
    624.316 Examination of insurers. Page 7 (pdf)
    624.3161 Market conduct examinations. Page 8 (pdf)
    624.4211 Administrative fine in lieu of suspension or revocation. Page 10 (pdf)
    624.424 Annual statement and other information. Page 12 (pdf)
    624.4301 Page 14 (pdf)
    626.207 Disqualification of applicants and licensees; penalties against licensees; rulemaking authority. Page 14 (pdf)
    626.9521 Unfair methods of competition and unfair or deceptive acts or practices prohibited; penalties. Page 14 (pdf)
    626.9541 Unfair methods of competition and unfair or deceptive acts or practices defined. Page 16 (pdf)
    626.9743 Claim settlement practices relating to motor vehicle insurance. Page 19 (pdf)
    626.989 Investigation by department or Division of Investigative and Forensic Services; compliance; immunity; confidential information; reports to division; division investigator’s power of arrest. Page 28 (pdf)
    627.0629 Residential property insurance; rate filings. Page 31 (pdf)
    627.351 Insurance risk apportionment plans. Page 33 (pdf)
    627.410 Filing, approval of forms. Page 33 (pdf)
    627.4108 Page 34 (pdf)
    627.4133 Notice of cancellation, nonrenewal, or renewal premium. Page 35 (pdf)
    627.426 Claims administration. Page 37 (pdf)
    627.701 Liability of insureds; coinsurance; deductibles. Page 41 (pdf)
    627.70132 Notice of property insurance claim. Page 42 (pdf)
    627.7019 Standardization of requirements applicable to insurers after natural disasters. Page 42 (pdf)
    627.782 Adoption of rates. Page 43 (pdf)

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  • SPB 7052, Proposed Bill Posted 4/3/2023 at 5:41 PM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 4/4/2023 (pdf)

    Committee Votes (1)

    Date Committee Result
    4/5/2023 8:30 AM Banking and Insurance 8 Yeas - 0 Nays

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