Senate Bill 408: Property and Casualty Insurance |
GENERAL BILL by Banking and Insurance; Richter Property and Casualty Insurance; Revises the definition of "losses," relating to the Florida Hurricane Catastrophe Fund, to exclude certain losses. Revises the amount of surplus funds required for domestic insurers applying for a certificate of authority after a certain date. Authorizes the Office of Insurance Regulation to reduce the surplus requirement under specified circumstances. Prohibits the Office of Insurance Regulation from, directly or indirectly, impeding the right of an insurer to acquire policyholders, advertise or appoint agents, or regulate agent commissions, etc. EFFECTIVE DATE: June 1, 2011 PLEASE CLICK HERE FOR ORIGINALLY FILED VERSION! |