HB 1429: Insurance Regulations
GENERAL BILL by Fabricio
Insurance Regulations; Requires documentation supporting that financial considerations & payments to affiliates by reciprocal insurers are fair & reasonable; authorizes reciprocal insurers to require subscriber contributions; provides applicability of specialty insurer provisions & nonapplicability of continuing care provider requirements to bondholders; specifies circumstances under which continuing care providers may withdraw specified percentage of required minimum liquid reserve; provides that continuing care & continuing care at-home contracts are not subordinate to any secured claims & must be treated with higher priority over all other claims in event of receivership or liquidation proceedings against continuing care provider; requires each continuing care facility to have its own designated resident representative; provides requirements for providers who borrow or solicit funds from residents; prohibits persons from acting or holding themselves as management companies for continuing care retirement communities without certificate of authority; provides guidelines for commissioner to determine if provider or facility is insolvent or in imminent danger of becoming insolvent; requires office to record notices of lien against continuing care facilities' properties.
Effective Date: 7/1/2025
Last Action: 4/1/2025 House - PCS added to Insurance & Banking Subcommittee agenda
Bill Text: PDF
Last Action: 4/1/2025 House - PCS added to Insurance & Banking Subcommittee agenda
Bill Text: PDF
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Bill History
Date Chamber Action 2/28/2025 House • Filed
3/4/2025 House • 1st Reading (Original Filed Version)
3/5/2025 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration Budget Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
4/1/2025 House • PCS added to Insurance & Banking Subcommittee agenda
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HB 1429, Original Filed Version (Current Bill Version) Posted 2/28/2025 at 11:25 AM
Bill Text: PDF Analyses: None Related Bills (7)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1431 Pub. Rec./Uniform Mitigation Verification Inspection Forms Chaney Linked Last Action: 4/1/2025 H Added to Insurance & Banking Subcommittee agenda 
H 1141 Insurance Regulations Fabricio Identical Last Action: 2/26/2025 H Withdrawn prior to introduction
S 1656 (c1) Insurance Regulations Collins Similar Last Action: 3/19/2025 S CS by Banking and Insurance read 1st time
H 763 Consumer Guide to Homeowner's Insurance Benarroch Compare Last Action: 3/4/2025 H 1st Reading (Original Filed Version)
H 881 (c1) Insurance Insurance & Banking Subcommittee Compare Last Action: 4/8/2025 H 1st Reading (Committee Substitute 1)
S 888 (c1) Consumer Transparency for Homeowners’ Insurance Avila Compare Last Action: 3/26/2025 S CS by Banking and Insurance read 1st time
S 1658 (c1) Public Records/Uniform Mitigation Verification Inspection Form Database Collins Compare Last Action: 3/19/2025 S CS by Banking and Insurance read 1st time
Citations - Statutes (83)
Citation Catchline Location in Bill Location In Bill Help 48.151 Service on statutory agents for certain persons. Page 14 (pdf) 252.63 Commissioner of Insurance Regulation; powers in a state of emergency. Page 15 (pdf) 624.4085 Risk-based capital requirements for insurers. Page 15 (pdf) 624.422 Service of process; appointment of Chief Financial Officer as process agent. Page 16 (pdf) 624.45 Participation of financial institutions in reinsurance and in insurance exchanges. Page 16 (pdf) 624.610 Reinsurance. Page 17 (pdf) 626.9651 Privacy. Page 21 (pdf) 627.062 Rate standards. Page 23 (pdf) 627.0621 Transparency in rate regulation. Page 25 (pdf) 627.0645 Annual filings. Page 30 (pdf) 627.0651 Making and use of rates for motor vehicle insurance. Page 30 (pdf) 627.4554 Suitability in annuity transactions. Page 31 (pdf) 627.642 Outline of coverage. Page 159 (pdf) 627.6475 Individual reinsurance pool. Page 161 (pdf) 627.657 Provisions of group health insurance policies. Page 165 (pdf) 627.6699 Employee Health Care Access Act. Page 39 (pdf) 627.66997 Stop-loss insurance. Page 166 (pdf) 627.711 Notice of premium discounts for hurricane loss mitigation; uniform mitigation verification inspection form. Page 54 (pdf) 627.7152 Assignment agreements. Page 55 (pdf) 627.9145 Page 56 (pdf) 627.915 Insurer experience reporting. Page 56 (pdf) 628.081 Incorporation of domestic insurer. Page 59 (pdf) 628.091 Filing, approval of articles of incorporation. Page 59 (pdf) 628.111 Amendment of articles of incorporation; mutual insurer. Page 60 (pdf) 628.461 Acquisition of controlling stock. Page 61 (pdf) 628.4615 Specialty insurers; acquisition of controlling stock, ownership interest, assets, or control; merger or consolidation. Page 63 (pdf) 628.717 Filing of articles of incorporation. Page 64 (pdf) 628.719 Amendment of articles of incorporation. Page 64 (pdf) 628.910 Incorporation options and requirements. Page 65 (pdf) 629.011 Definitions. Page 66 (pdf) 629.071 Surplus funds required. Page 67 (pdf) 629.081 Organization of reciprocal insurer. Page 68 (pdf) 629.082 Page 68 (pdf) 629.1015 Page 68 (pdf) 629.121 Attorney’s bond. Page 70 (pdf) 629.162 Page 71 (pdf) 629.163 Page 71 (pdf) 629.164 Page 72 (pdf) 629.171 Annual statement. Page 73 (pdf) 629.181 Financial condition; method of determining. Page 74 (pdf) 629.201 Subscribers’ advisory committee. Page 75 (pdf) 629.271 Distribution of savings. Page 76 (pdf) 629.291 Merger or conversion. Page 77 (pdf) 629.301 Impaired reciprocal insurers. Page 77 (pdf) 629.401 Insurance exchange. Page 78 (pdf) 629.520 Authority of a limited reciprocal insurer. Page 79 (pdf) 629.56 Page 79 (pdf) 634.401 Definitions. Page 79 (pdf) 641.2012 Page 80 (pdf) 641.26 Annual and quarterly reports. Page 80 (pdf) 641.283 Page 83 (pdf) 651.011 Definitions. Page 84 (pdf) 651.018 Administrative supervision. Page 88 (pdf) 651.019 New financing, additional financing, or refinancing. Page 89 (pdf) 651.0212 Page 90 (pdf) 651.0215 Consolidated application for a provisional certificate of authority and a certificate of authority; required restrictions on use of entrance fees. Page 93 (pdf) 651.022 Provisional certificate of authority; application. Page 94 (pdf) 651.023 Certificate of authority; application. Page 98 (pdf) 651.024 Acquisition. Page 101 (pdf) 651.0246 Expansions. Page 102 (pdf) 651.026 Annual reports. Page 106 (pdf) 651.0261 Quarterly and monthly statements. Page 108 (pdf) 651.033 Escrow accounts. Page 110 (pdf) 651.034 Financial and operating requirements for providers. Page 113 (pdf) 651.035 Minimum liquid reserve requirements. Page 114 (pdf) 651.043 Approval of change in management. Page 121 (pdf) 651.055 Continuing care contracts; right to rescind. Page 122 (pdf) 651.071 Contracts as preferred claims on liquidation or receivership. Page 123 (pdf) 651.085 Quarterly meetings between residents and the governing body of the provider; resident representation before the governing body of the provider. Page 123 (pdf) 651.087 Page 124 (pdf) 651.091 Availability, distribution, and posting of reports and records; requirement of full disclosure. Page 129 (pdf) 651.104 Page 132 (pdf) 651.1041 Page 137 (pdf) 651.1043 Page 137 (pdf) 651.1045 Page 140 (pdf) 651.105 Examination. Page 144 (pdf) 651.1065 Soliciting or accepting new continuing care contracts by impaired or insolvent facilities or providers. Page 147 (pdf) 651.1068 Page 148 (pdf) 651.107 Duration of suspension; obligations during suspension period; reinstatement. Page 148 (pdf) 651.108 Administrative fines. Page 149 (pdf) 651.113 Page 150 (pdf) 651.114 Delinquency proceedings; remedial rights. Page 154 (pdf) 651.1165 Page 157 (pdf)