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HB 833: Florida Hurricane Catastrophe Fund

GENERAL BILL by Hager ; (CO-INTRODUCERS) Boyd

Florida Hurricane Catastrophe Fund; Revises definitions of "retention" & "corporation"; provides for calculation of insurer's reimbursement premium & retention under reimbursement contract; revises coverage levels available under reimbursement contract; revises aggregate coverage limits; provides for phase-in of changes to coverage levels & limits; revises cash build-up factor included in reimbursement premiums; provides for phase-in; reduces maximum allowable emergency assessments; changes name of Florida Hurricane Catastrophe Fund Finance Corporation; repeals provisions related to temporary emergency options for additional coverage; terminates temporary increase in coverage limits option at end of 2011-2012 contract year; limits to 2012-2013 contract year provisions relating to TICL options addendum, TICL reimbursement premiums, & claims-paying capacity of fund.

Effective Date: upon becoming a law
Last Action: 3/9/2012 House - Died in Insurance and Banking Subcommittee
Location: In committee/council (INBS)
Bill Text: PDF



Bill History

Date Chamber Action
12/1/2011 House • Filed
12/12/2011 House • Referred to Insurance and Banking Subcommittee; Economic Affairs Committee -HJ 82
1/10/2012 House • Introduced -HJ 81
1/12/2012 House • On Committee agenda-- Insurance and Banking Subcommittee, 01/17/12, 3:30 pm, 404 HOB --Workshopped
1/26/2012 House • On Committee agenda-- Insurance and Banking Subcommittee, 01/30/12, 2:00 pm, 404 HOB --Removed from agenda
3/9/2012 House • Died in Insurance and Banking Subcommittee