Bill Text: FL S1186 | 2024 | Regular Session | Introduced

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Bill Title: Insurance Solutions Advisory Council

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2024-03-08 - Died in Banking and Insurance [S1186 Detail]

Download: Florida-2024-S1186-Introduced.html

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       Florida Senate - 2024                                    SB 1186
       
       
        
       By Senator Berman
       
       
       
       
       
       26-00580B-24                                          20241186__
    1                        A bill to be entitled                      
    2         An act relating to the Insurance Solutions Advisory
    3         Council; creating the advisory council within the
    4         Office of Insurance Regulation for specified purposes;
    5         providing for membership and meetings of the advisory
    6         council; requiring the office to provide the advisory
    7         council with staffing and administrative assistance;
    8         requiring the advisory council to submit a specified
    9         report annually; providing for expiration of the
   10         advisory council; providing an effective date.
   11          
   12  Be It Enacted by the Legislature of the State of Florida:
   13  
   14         Section 1. Insurance Solutions Advisory Council.—
   15         (1) The Insurance Solutions Advisory Council, an advisory
   16  council as defined in s. 20.03(7), Florida Statutes, is created
   17  within the Office of Insurance Regulation to analyze and compile
   18  available data and evaluate relevant and applicable information
   19  relating to Florida’s property and automobile insurance market.
   20  The advisory council shall serve in an advisory capacity to the
   21  office and the Legislature.
   22         (2) The advisory council shall be composed of the following
   23  members:
   24         (a) Three members appointed by the Speaker of the House of
   25  Representatives:
   26         1. One member representing a property and casualty
   27  residential insurer that has issued at least 150,000 homeowners’
   28  insurance policies in this state at the time of the creation of
   29  the advisory council.
   30         2. One member representing a surplus lines insurance
   31  company.
   32         3. One member who is a trial attorney.
   33         (b) Three members appointed by the President of the Senate:
   34         1. One member representing a property and casualty
   35  commercial nonresidential insurer.
   36         2. One member representing a property and casualty
   37  residential insurer that has issued fewer than 150,000
   38  homeowners’ insurance policies in this state at the time of the
   39  creation of the advisory council.
   40         3. One member who is a public adjuster.
   41         (c) Three members appointed by the Governor who are not
   42  employed by or professionally affiliated with an insurance
   43  company or a subsidiary of an insurance company, at least one of
   44  whom must be a consumer advocate or a member of a consumer
   45  advocacy organization or agency and one of whom must be
   46  recommended by the Florida Insurance Council. The Governor shall
   47  appoint one such member as the advisory council’s chair.
   48         (d) Two members appointed by the Chief Financial Officer,
   49  representing insurance agents in this state.
   50         (e) One member representing Citizens Property Insurance
   51  Corporation, selected by the chair of the board of directors of
   52  the Citizens Property Insurance Corporation.
   53         (f) The commissioner of the Office of Insurance Regulation
   54  or his or her designee.
   55         (3) Members must be appointed no later than August 1, 2024.
   56  Members serve at the pleasure of the officer who appointed them,
   57  and a vacancy on the advisory council must be filled in the same
   58  manner as the original appointment. Members of the advisory
   59  council shall serve without compensation but are entitled to
   60  reimbursement for per diem and travel expenses pursuant to s.
   61  112.061, Florida Statutes.
   62         (4) The advisory council shall meet at the call of the
   63  chair at a time and location in this state designated by the
   64  chair.
   65         (5) The Office of Insurance Regulation shall provide
   66  staffing and administrative assistance to the advisory council
   67  in performing its duties.
   68         (6) Beginning October 1, 2024, the advisory council shall
   69  submit an annual report regarding its analysis as specified in
   70  subsection (1) and any recommendations related to property and
   71  automobile insurance in this state.
   72         (7) This section expires June 30, 2029, unless reviewed and
   73  saved from repeal through reenactment by the Legislature.
   74         Section 2. This act shall take effect July 1, 2024.