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CS/CS/HB 821: Insurer Solvency

GENERAL BILL by Regulatory Affairs Committee ; Insurance and Banking Subcommittee ; Ingram

Insurer Solvency; Provides definitions applicable to Florida Insurance Code; revises definition; provides additional calculations for determining whether insurer has company action level event; revises provisions relating to mandatory control level events; requires insurer's annual statement to include actuarial opinion summary; provides criteria for summary; provides exception for life & health insurers; protects material supporting insurer's annual actuarial opinion from subpoena, discovery, or admissibility in civil action; revises amount of outstanding voting securities of domestic stock insurer or controlling company that person is prohibited from acquiring unless certain requirements have been met; deletes provision authorizing insurer to file disclaimer of affiliation & control in lieu of letter notifying OIR of FSC of acquisition of voting securities of domestic stock company; requires statement notifying office to include additional information; provides that control is presumed to exist under certain conditions; specifies how control may be rebutted & how controlling interest may be divested.

Effective Date: 10/1/2013
Last Action: 5/3/2013 House - Died on Calendar
Location: On 2nd Reading Calendar
Bill Text: PDF

Bill History

Date Chamber Action
2/15/2013 House • Filed
2/28/2013 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 84
3/5/2013 House • Introduced -HJ 83
3/11/2013 House • On Committee agenda-- Insurance and Banking Subcommittee, 03/13/13, 9:00 am, 404 HOB
3/13/2013 House • CS by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 272
3/15/2013 House • Pending review of CS under Rule 7.19(c)
3/18/2013 House • Original reference(s) removed: Government Operations Appropriations Subcommittee
• CS referred to Regulatory Affairs Committee -HJ 270
• Now in Regulatory Affairs Committee -HJ 270
• CS by Insurance and Banking Subcommittee read 1st time -HJ 265
3/25/2013 House • On Committee agenda-- Regulatory Affairs Committee, 03/27/13, 2:00 pm, 404 HOB
3/27/2013 House • CS/CS by- Regulatory Affairs Committee; YEAS 18 NAYS 0 -HJ 385
4/1/2013 House • Pending review of CS -under Rule 7.19(c)
• CS/CS by Regulatory Affairs Committee read 1st time -HJ 380
4/2/2013 House • Placed on Calendar -HJ 402
5/3/2013 House • Died on Calendar