FL H1015 | 2024 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 22 2023 - 25% progression
Action: 2024-01-08 - Withdrawn prior to introduction
Text: Latest bill text (Introduced) [PDF]

Summary

Prohibits insurers from cancelling & nonrenewing certain personal residential & commercial residential property insurance policies for specified period; provides requirements for averaged models if such models are used for insurance rates; revises property insurance policies issued by Citizens Property Insurance Corporation which are not subject to rate increase limitations; provides requirements for surplus for reciprocal insurers; requires that reciprocal certificates of authority be issued to certain entities; authorizes reciprocal insurers to borrow money for specified purposes; prohibits specified acquisitions of certain voting securities; provides that votes in contravention of specified provisions are not valid; provides that acquisitions contrary to specified provisions are void; authorizes office to order certain persons to cease acquisition & divest themselves of stocks & ownership interests; prohibits Florida state security & guaranty funds from covering performance of contractual obligations of exchanges & their members for certain provisions relating to reciprocal insurer surpluses & attorney bonds.

Tracking Information

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Title

Insurance

Sponsors


History

DateChamberAction
2024-01-08HouseWithdrawn prior to introduction
2024-01-08HouseNow in Insurance & Banking Subcommittee
2024-01-08HouseReferred to Commerce Committee
2024-01-08HouseReferred to State Administration & Technology Appropriations Subcommittee
2024-01-08HouseReferred to Insurance & Banking Subcommittee
2023-12-22HouseFiled

Same As/Similar To

S1622 (Similar To) 2024-03-06 - Laid on Table, refer to CS/CS/HB 1611
H1611 (Similar To) 2024-05-13 - Chapter No. 2024-182

Code Citations

ChapterArticleSectionCitation TypeStatute Text
16301Amended CodeSee Bill Text
624424Amended CodeSee Bill Text
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Florida State Sources


Bill Comments

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