CS/HB 881: Insurance
GENERAL BILL by Insurance & Banking Subcommittee ; Griffitts
Insurance; Provides procedures & timelines for objecting, & responding to objections, to sufficiency of evidence submitted by claimants to insurers; requires FDLE to accept certain fingerprints; specifies that certain criminal records must be used by OIR for certain purposes; establishes standards for compensation arrangements & oversight of affiliate transactions involving insurers, managing general agents, & attorneys in fact; requires certain rate filings with OIR from residential property insurers to include rate transparency reports; provides reporting requirements relating to universal life insurance policies; provides authority of OIR over affiliate dividends; authorizes assessable & nonassessable reciprocal insurers, rather than domestic reciprocal insurers, to transact insurance if they maintain specified amounts of surplus funds; provides that attorneys in fact of reciprocal insurers are affiliated entities; authorizes reciprocal insurers to require subscriber contributions; authorizes reciprocal insurers to establish subscriber savings accounts; specifies manner in which impaired reciprocal insurers are proceeded against if they cannot make up deficiencies in assets; specifies manner in which assessments are levied upon subscribers if reciprocal insurers are liquidated; requires reciprocal insurers to maintain unearned premium reserves at all times.
Last Action: 4/8/2025 House - 1st Reading (Committee Substitute 1)
Bill Text: PDF
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Bill History
Date Chamber Action 2/21/2025 House • Filed
3/2/2025 House • Referred to Insurance & Banking Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
3/4/2025 House • 1st Reading (Original Filed Version)
4/1/2025 House • PCS added to Insurance & Banking Subcommittee agenda
4/3/2025 House • Favorable with CS by Insurance & Banking Subcommittee
4/7/2025 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
4/8/2025 House • Referred to Commerce Committee
• Now in Commerce Committee
• 1st Reading (Committee Substitute 1)
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CS/HB 881, Committee Substitute 1 (Current Bill Version) Posted 4/7/2025 at 5:59 PM
Bill Text: PDF Analyses: Insurance & Banking Subcommittee (Post-Meeting) 4/8/2025 (pdf)
Related Bills (7)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 643 (c2) Insurance Insurance & Banking Subcommittee Compare Last Action: 4/25/2025 S Received 
H 991 (c2) Community and Economic Development State Affairs Committee Compare Last Action: 4/25/2025 H Laid on Table, refer to CS/SB 110
H 1047 (c1) Insurance Insurance & Banking Subcommittee Compare Last Action: 4/2/2025 H Now in Commerce Committee
H 1141 Insurance Regulations Fabricio Compare Last Action: 2/26/2025 H Withdrawn prior to introduction
H 1429 Insurance Regulations Fabricio Compare Last Action: 4/1/2025 H PCS added to Insurance & Banking Subcommittee agenda
S 1428 Consumer Protection in Insurance Matters DiCeglie Compare Last Action: 3/26/2025 S On Committee agenda-- Banking and Insurance, 03/31/25, 1:30 pm, 412 Knott Building --Temporarily Postponed
S 1656 (c1) Insurance Regulations Collins Compare Last Action: 3/19/2025 S CS by Banking and Insurance read 1st time
Citations - Statutes (25)
Citation Catchline Location in Bill Location In Bill Help 624.155 Civil remedy. Page 6 (pdf) 624.341 Page 7 (pdf) 624.347 Page 10 (pdf) 624.424 Annual statement and other information. Page 14 (pdf) 624.45 Participation of financial institutions in reinsurance and in insurance exchanges. Page 35 (pdf) 626.854 “Public adjuster” defined; prohibitions. Page 15 (pdf) 627.4823 Page 15 (pdf) 628.371 Dividends to stockholders. Page 18 (pdf) 628.372 Page 22 (pdf) 628.461 Acquisition of controlling stock. Page 22 (pdf) 629.011 Definitions. Page 24 (pdf) 629.071 Surplus funds required. Page 25 (pdf) 629.082 Page 26 (pdf) 629.121 Attorney’s bond. Page 26 (pdf) 629.162 Page 27 (pdf) 629.163 Page 27 (pdf) 629.164 Page 28 (pdf) 629.171 Annual statement. Page 30 (pdf) 629.201 Subscribers’ advisory committee. Page 30 (pdf) 629.271 Distribution of savings. Page 32 (pdf) 629.291 Merger or conversion. Page 33 (pdf) 629.301 Impaired reciprocal insurers. Page 33 (pdf) 629.401 Insurance exchange. Page 34 (pdf) 629.520 Authority of a limited reciprocal insurer. Page 35 (pdf) 629.56 Page 35 (pdf) -
HB 881, Original Filed Version Posted 2/21/2025 at 2:26 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1428 Consumer Protection in Insurance Matters DiCeglie Similar Last Action: 3/26/2025 S On Committee agenda-- Banking and Insurance, 03/31/25, 1:30 pm, 412 Knott Building --Temporarily Postponed
Citations - Statutes (5)
Citation Catchline Location in Bill Location In Bill Help 626.854 “Public adjuster” defined; prohibitions. Page 2 (pdf) 627.4823 Page 2 (pdf) 627.6515 Out-of-state groups. Page 5 (pdf) 627.7293 Page 6 (pdf) 627.7431 Page 7 (pdf)