CS/CS/SB 1622: Insurance
GENERAL BILL by Fiscal Policy ; Banking and Insurance ; Trumbull ; (CO-INTRODUCERS) Perry
Insurance; Revising the entities for which the Office of Insurance Regulation is required to conduct market conduct examinations; beginning on a specified date, requiring insurers and insurer groups to file a specified supplemental report on a monthly basis; revising the requirements for public housing authority self-insurance funds; revising the procedure for persons to organize as a domestic reciprocal insurer; providing that a domestic reciprocal insurer may seek a certificate of authority only under certain circumstances, etc.
Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect upon this act becoming a law, this act shall take effect July 1, 2024
Last Action: 3/6/2024 Senate - Laid on Table, companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182) -SJ 867
Bill Text: Web Page | PDF
Last Action: 3/6/2024 Senate - Laid on Table, companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182) -SJ 867
Bill Text: Web Page | PDF
Senate Committee References:
- Banking and Insurance (BI)
- Appropriations Committee on Agriculture, Environment, and General Government (AEG)
- Fiscal Policy (FP)
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Bill History
Date Chamber Action 1/5/2024 Senate • Filed
1/11/2024 Senate • Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
• Introduced
1/24/2024 Senate • On Committee agenda-- Banking and Insurance, 01/29/24, 1:30 pm, 412 Knott Building
1/29/2024 Senate • CS by Banking and Insurance; YEAS 8 NAYS 0
1/30/2024 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• Now in Appropriations Committee on Agriculture, Environment, and General Government
2/1/2024 Senate • CS by Banking and Insurance read 1st time
2/5/2024 Senate • On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 02/08/24, 2:00 pm, 110 Senate Building
2/8/2024 Senate • Favorable by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 9 NAYS 0
• Now in Fiscal Policy
2/12/2024 Senate • On Committee agenda-- Fiscal Policy, 02/15/24, 12:00 pm, 412 Knott Building --Temporarily Postponed
2/22/2024 Senate • On Committee agenda-- Fiscal Policy, 02/27/24, 9:00 am, 412 Knott Building
2/27/2024 Senate • CS/CS by- Fiscal Policy; YEAS 18 NAYS 0
2/28/2024 Senate • Pending reference review -under Rule 4.7(2) - (Committee Substitute)
• Placed on Calendar, on 2nd reading
• Placed on Special Order Calendar, 03/01/24
• CS/CS by Fiscal Policy read 1st time
3/1/2024 Senate • Retained on Special Order Calendar -SJ 606
3/4/2024 Senate • Retained on Special Order Calendar -SJ 656
3/5/2024 Senate • Retained on Special Order Calendar -SJ 733
3/6/2024 Senate • Read 2nd time -SJ 866
• Substituted CS/CS/HB 1611 -SJ 867
• Laid on Table, companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182) -SJ 867
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CS/CS/SB 1622, Committee Substitute 2 (Current Bill Version) Posted 2/28/2024 at 12:16 PM
Bill Text: Web Page | PDF Analyses: None Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1611 (er) Insurance Insurance & Banking Subcommittee Similar Last Action: 5/13/2024 Chapter No. 2024-182 
H 1015 Insurance Stevenson Compare Last Action: 1/8/2024 H Withdrawn prior to introduction; companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182)
Citations - Statutes (26)
Citation Catchline Location in Bill Location In Bill Help 163.01 Florida Interlocal Cooperation Act of 1969. Page 44 (pdf) 624.3161 Market conduct examinations. Page 6 (pdf) 624.424 Annual statement and other information. Page 7 (pdf) 624.4305 Nonrenewal of residential property insurance policies. Page 8 (pdf) 624.46226 Public housing authorities self-insurance funds; exemption for taxation and assessments. Page 8 (pdf) 626.9201 Notice of cancellation or nonrenewal. Page 10 (pdf) 626.9531 Identification of insurers, agents, and insurance contracts. Page 44 (pdf) 627.062 Rate standards. Page 13 (pdf) 627.351 Insurance risk apportionment plans. Page 14 (pdf) 627.7011 Homeowners’ policies; offer of replacement cost coverage and law and ordinance coverage. Page 16 (pdf) 628.011 Scope of part. Page 17 (pdf) 628.061 Investigation of proposed organization. Page 16 (pdf) 628.801 Insurance holding companies; registration; regulation. Page 18 (pdf) 629.011 “Reciprocal insurance” defined. Page 20 (pdf) 629.021 “Reciprocal insurer” defined. Page 22 (pdf) 629.061 Attorney. Page 22 (pdf) 629.081 Organization of reciprocal insurer. Page 22 (pdf) 629.091 Certificate of authority. Page 24 (pdf) 629.094 Page 26 (pdf) 629.101 Power of attorney. Page 25 (pdf) 629.225 Page 27 (pdf) 629.227 Page 38 (pdf) 629.229 Page 40 (pdf) 629.261 Nonassessable policies. Page 41 (pdf) 629.291 Merger or conversion. Page 42 (pdf) 629.525 Page 44 (pdf) -
CS/SB 1622, Committee Substitute 1 Posted 1/30/2024 at 1:48 PM
Bill Text: Web Page | PDF Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1611 (c2) Insurance Insurance & Banking Subcommittee Similar Last Action: 5/13/2024 Chapter No. 2024-182
H 1015 Insurance Stevenson Compare Last Action: 1/8/2024 H Withdrawn prior to introduction; companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 199358 - Amendment
Delete lines 177 - 1245 and insert:Fiscal Policy
(Trumbull)2/26/2024
5:00 PMReplaced by Committee Substitute
2/28/2024Web Page
PDFCommittee Votes (2)
Date Committee Result 2/8/2024 2:00 PM Appropriations Committee on Agriculture, Environment, and General Government 9 Yeas - 0 Nays 2/27/2024 9:00 AM Fiscal Policy 18 Yeas - 0 Nays Citations - Statutes (25)
Citation Catchline Location in Bill Location In Bill Help 163.01 Florida Interlocal Cooperation Act of 1969. Page 43 (pdf) 624.3161 Market conduct examinations. Page 6 (pdf) 624.424 Annual statement and other information. Page 7 (pdf) 624.4305 Nonrenewal of residential property insurance policies. Page 8 (pdf) 624.46226 Public housing authorities self-insurance funds; exemption for taxation and assessments. Page 8 (pdf) 626.9201 Notice of cancellation or nonrenewal. Page 10 (pdf) 626.9531 Identification of insurers, agents, and insurance contracts. Page 43 (pdf) 627.062 Rate standards. Page 12 (pdf) 627.351 Insurance risk apportionment plans. Page 13 (pdf) 628.011 Scope of part. Page 16 (pdf) 628.061 Investigation of proposed organization. Page 16 (pdf) 628.801 Insurance holding companies; registration; regulation. Page 16 (pdf) 629.011 “Reciprocal insurance” defined. Page 19 (pdf) 629.021 “Reciprocal insurer” defined. Page 21 (pdf) 629.061 Attorney. Page 21 (pdf) 629.081 Organization of reciprocal insurer. Page 21 (pdf) 629.091 Certificate of authority. Page 23 (pdf) 629.094 Page 24 (pdf) 629.101 Power of attorney. Page 25 (pdf) 629.225 Page 26 (pdf) 629.227 Page 37 (pdf) 629.229 Page 38 (pdf) 629.261 Nonassessable policies. Page 39 (pdf) 629.291 Merger or conversion. Page 41 (pdf) 629.525 Page 42 (pdf) -
SB 1622, Original Filed Version Posted 1/5/2024 at 5:40 PM
Bill Text: Web Page | PDF Analyses: Banking and Insurance (Pre-Meeting) 1/26/2024 (pdf)
Banking and Insurance (Post-Meeting) 1/30/2024 (pdf)
Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1611 Insurance Insurance & Banking Subcommittee Similar Last Action: 5/13/2024 Chapter No. 2024-182
H 1015 Insurance Stevenson Compare Last Action: 1/8/2024 H Withdrawn prior to introduction; companion bill(s) passed, see CS/CS/HB 1611 (Ch. 2024-182)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 210306 - Amendment (Delete All)
Delete everything after the enacting clause and insert:Banking and Insurance
(Trumbull)1/26/2024
1:26 PMReplaced by Committee Substitute
1/30/2024Web Page
PDFCommittee Votes (1)
Date Committee Result 1/29/2024 1:30 PM Banking and Insurance 8 Yeas - 0 Nays Citations - Statutes (46)
Citation Catchline Location in Bill Location In Bill Help 163.01 Florida Interlocal Cooperation Act of 1969. Page 51 (pdf) 624.3161 Market conduct examinations. Page 8 (pdf) 624.413 Application for certificate of authority. Page 52 (pdf) 624.424 Annual statement and other information. Page 8 (pdf) 624.4305 Nonrenewal of residential property insurance policies. Page 9 (pdf) 624.45 Participation of financial institutions in reinsurance and in insurance exchanges. Page 52 (pdf) 624.46226 Public housing authorities self-insurance funds; exemption for taxation and assessments. Page 10 (pdf) 626.9201 Notice of cancellation or nonrenewal. Page 11 (pdf) 626.9531 Identification of insurers, agents, and insurance contracts. Page 53 (pdf) 627.062 Rate standards. Page 14 (pdf) 627.351 Insurance risk apportionment plans. Page 14 (pdf) 628.011 Scope of part. Page 17 (pdf) 628.061 Investigation of proposed organization. Page 17 (pdf) 628.801 Insurance holding companies; registration; regulation. Page 18 (pdf) 629.011 “Reciprocal insurance” defined. Page 20 (pdf) 629.021 “Reciprocal insurer” defined. Page 22 (pdf) 629.031 Scope of chapter. Page 22 (pdf) 629.051 Name; suits. Page 22 (pdf) 629.056 Page 23 (pdf) 629.061 Attorney. Page 24 (pdf) 629.071 Surplus funds required. Page 24 (pdf) 629.081 Organization of reciprocal insurer. Page 25 (pdf) 629.091 Certificate of authority. Page 27 (pdf) 629.094 Page 28 (pdf) 629.101 Power of attorney. Page 28 (pdf) 629.111 Modifications. Page 30 (pdf) 629.121 Attorney’s bond. Page 30 (pdf) 629.131 Deposit in lieu of bond. Page 31 (pdf) 629.141 Action on bond. Page 31 (pdf) 629.161 Contributions to insurer. Page 31 (pdf) 629.171 Annual statement. Page 33 (pdf) 629.191 Who may be subscribers. Page 33 (pdf) 629.201 Subscribers’ advisory committee. Page 34 (pdf) 629.225 Page 34 (pdf) 629.227 Page 45 (pdf) 629.231 Assessments. Page 46 (pdf) 629.241 Time limit for assessments. Page 47 (pdf) 629.251 Aggregate liability. Page 47 (pdf) 629.261 Nonassessable policies. Page 48 (pdf) 629.271 Distribution of savings. Page 48 (pdf) 629.281 Subscribers’ share in assets. Page 49 (pdf) 629.291 Merger or conversion. Page 49 (pdf) 629.301 Impaired reciprocal insurers. Page 50 (pdf) 629.401 Insurance exchange. Page 51 (pdf) 629.520 Authority of a limited reciprocal insurer. Page 51 (pdf) 629.525 Page 51 (pdf)