Bill Text: FL H4095 | 2011 | Regular Session | Introduced

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Bill Title: Workers' Comp./Employer's Liability Insurance

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2011-05-07 - Indefinitely postponed and withdrawn from consideration [H4095 Detail]

Download: Florida-2011-H4095-Introduced.html

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HB 4095

1	A bill to be entitled
2	An act relating to workers' compensation and employer's
3	liability insurance; amending s. 627.311, F.S.; deleting a
4	provision prohibiting an insurer from providing certain
5	types of insurance to persons or their affiliates if
6	certain payments to the joint underwriting plan operating
7	as the Florida Workers' Compensation Joint Underwriting
8	Association, Inc., are delinquent; providing an effective
9	date.
10
11	Be It Enacted by the Legislature of the State of Florida:
12
13	Section 1.  Paragraphs (t), (u), (v), and (w) of subsection
14	(5) of section 627.311, Florida Statutes, are amended to read:
15	627.311  Joint underwriters and joint reinsurers; public
16	records and public meetings exemptions.-
17	(5)
18	(t)  No insurer shall provide workers' compensation and
19	employer's liability insurance to any person who is delinquent
20	in the payment of premiums, assessments, penalties, or
21	surcharges owed to the plan or to any person who is an
22	affiliated person of a person who is delinquent in the payment
23	of premiums, assessments, penalties, or surcharges owed to the
24	plan. For purposes of this paragraph, the term "affiliated
25	person" of another person means:
26	1.  The spouse of such other natural person;
27	2.  Any person who directly or indirectly owns or controls,
28	or holds with the power to vote, 5 percent or more of the
29	outstanding voting securities of such other person;
30	3.  Any person who directly or indirectly owns 5 percent or
31	more of the outstanding voting securities that are directly or
32	indirectly owned or controlled, or held with the power to vote,
33	by such other person;
34	4.  Any person or group of persons who directly or
35	indirectly control, are controlled by, or are under common
36	control with such other person;
37	5.  Any officer, director, trustee, partner, owner,
38	manager, joint venturer, or employee, or other person performing
39	duties similar to persons in those positions, of such other
40	persons; or
41	6.  Any person who has an officer, director, trustee,
42	partner, or joint venturer in common with such other person.
43	(t)(u)  Effective July 1, 2004, the plan is exempt from the
44	premium tax under s. 624.509 and any assessments under ss.
45	440.49 and 440.51.
46	(u)(v)  The Office of Insurance Regulation shall perform a
47	comprehensive market conduct examination of the plan
48	periodically to determine compliance with its plan of operation
49	and internal operating policies and procedures.
50	(v)(w)  Upon dissolution, the assets of the plan shall be
51	applied first to pay all debts, liabilities, and obligations of
52	the plan, including the establishment of reasonable reserves for
53	any contingent liabilities or obligations, and all remaining
54	assets of the plan shall become property of the state and shall
55	be deposited in the Workers' Compensation Administration Trust
56	Fund. However, dissolution may not take effect as long as the
57	plan has financial obligations outstanding unless adequate
58	provision has been made for the payment of financial obligations
59	pursuant to the documents authorizing the financial obligations.
60	Section 2.  This act shall take effect July 1, 2011.

CODING: Words stricken are deletions; words underlined are additions.