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Glossary of Legislative Terms

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: 2/28/2025 House - Filed
Bill Text: PDF

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  • Bill History

    Date Chamber Action
    2/28/2025 House • Filed

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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

    Citations - Statutes (83)

    Citation Catchline Location in Bill Location In Bill Help
    48.151 Service on statutory agents for certain persons.
    252.63 Commissioner of Insurance Regulation; powers in a state of emergency.
    624.4085 Risk-based capital requirements for insurers.
    624.422 Service of process; appointment of Chief Financial Officer as process agent.
    624.45 Participation of financial institutions in reinsurance and in insurance exchanges.
    624.610 Reinsurance.
    626.9651 Privacy.
    627.062 Rate standards.
    627.0621 Transparency in rate regulation.
    627.0645 Annual filings.
    627.0651 Making and use of rates for motor vehicle insurance.
    627.4554 Suitability in annuity transactions.
    627.642 Outline of coverage.
    627.6475 Individual reinsurance pool.
    627.657 Provisions of group health insurance policies.
    627.6699 Employee Health Care Access Act.
    627.66997 Stop-loss insurance.
    627.711 Notice of premium discounts for hurricane loss mitigation; uniform mitigation verification inspection form.
    627.7152 Assignment agreements.
    627.9145
    627.915 Insurer experience reporting.
    628.081 Incorporation of domestic insurer.
    628.091 Filing, approval of articles of incorporation.
    628.111 Amendment of articles of incorporation; mutual insurer.
    628.461 Acquisition of controlling stock.
    628.4615 Specialty insurers; acquisition of controlling stock, ownership interest, assets, or control; merger or consolidation.
    628.717 Filing of articles of incorporation.
    628.719 Amendment of articles of incorporation.
    628.910 Incorporation options and requirements.
    629.011 Definitions.
    629.071 Surplus funds required.
    629.081 Organization of reciprocal insurer.
    629.082
    629.1015
    629.121 Attorney’s bond.
    629.162
    629.163
    629.164
    629.171 Annual statement.
    629.181 Financial condition; method of determining.
    629.201 Subscribers’ advisory committee.
    629.271 Distribution of savings.
    629.291 Merger or conversion.
    629.301 Impaired reciprocal insurers.
    629.401 Insurance exchange.
    629.520 Authority of a limited reciprocal insurer.
    629.56
    634.401 Definitions.
    641.2012
    641.26 Annual and quarterly reports.
    641.283
    651.011 Definitions.
    651.018 Administrative supervision.
    651.019 New financing, additional financing, or refinancing.
    651.0212
    651.0215 Consolidated application for a provisional certificate of authority and a certificate of authority; required restrictions on use of entrance fees.
    651.022 Provisional certificate of authority; application.
    651.023 Certificate of authority; application.
    651.024 Acquisition.
    651.0246 Expansions.
    651.026 Annual reports.
    651.0261 Quarterly and monthly statements.
    651.033 Escrow accounts.
    651.034 Financial and operating requirements for providers.
    651.035 Minimum liquid reserve requirements.
    651.043 Approval of change in management.
    651.055 Continuing care contracts; right to rescind.
    651.071 Contracts as preferred claims on liquidation or receivership.
    651.085 Quarterly meetings between residents and the governing body of the provider; resident representation before the governing body of the provider.
    651.087
    651.091 Availability, distribution, and posting of reports and records; requirement of full disclosure.
    651.104
    651.1041
    651.1043
    651.1045
    651.105 Examination.
    651.1065 Soliciting or accepting new continuing care contracts by impaired or insolvent facilities or providers.
    651.1068
    651.107 Duration of suspension; obligations during suspension period; reinstatement.
    651.108 Administrative fines.
    651.113
    651.114 Delinquency proceedings; remedial rights.
    651.1165

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