Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 408
                                Barcode 749848                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/22/2011           .                                

       The Committee on Budget (Fasano) recommended the following:
    1         Senate Amendment (with title amendment)
    3         Delete lines 713 - 753
    4  and insert:
    5         (2) As to all such classes of insurance:
    6         (a) Insurers or rating organizations shall establish and
    7  use rates, rating schedules, or rating manuals that to allow the
    8  insurer a reasonable rate of return on the such classes of
    9  insurance written in this state. A copy of rates, rating
   10  schedules, rating manuals, premium credits or discount
   11  schedules, and surcharge schedules, and changes thereto, must
   12  shall be filed with the office under one of the following
   13  procedures except as provided in subparagraph 3.:
   14         1. If the filing is made at least 90 days before the
   15  proposed effective date and the filing is not implemented during
   16  the office’s review of the filing and any proceeding and
   17  judicial review, then such filing is shall be considered a “file
   18  and use” filing. In such case, the office shall finalize its
   19  review by issuance of an approval a notice of intent to approve
   20  or a notice of intent to disapprove within 90 days after receipt
   21  of the filing. The approval notice of intent to approve and the
   22  notice of intent to disapprove constitute agency action for
   23  purposes of the Administrative Procedure Act. Requests for
   24  supporting information, requests for mathematical or mechanical
   25  corrections, or notification to the insurer by the office of its
   26  preliminary findings does shall not toll the 90-day period
   27  during any such proceedings and subsequent judicial review. The
   28  rate shall be deemed approved if the office does not issue an
   29  approval a notice of intent to approve or a notice of intent to
   30  disapprove within 90 days after receipt of the filing.
   31         2. If the filing is not made in accordance with the
   32  provisions of subparagraph 1., such filing must shall be made as
   33  soon as practicable, but within no later than 30 days after the
   34  effective date, and is shall be considered a “use and file”
   35  filing. An insurer making a “use and file” filing is potentially
   36  subject to an order by the office to return to policyholders
   37  those portions of rates found to be excessive, as provided in
   38  paragraph (h).
   39         3. For all property insurance filings made or submitted
   40  after January 25, 2007, but before December 31, 2010, an insurer
   41  seeking a rate that is greater than the rate most recently
   42  approved by the office shall make a “file and use” filing. For
   43  purposes of this subparagraph, motor vehicle collision and
   44  comprehensive coverages are not considered to be property
   45  coverages.
   48  ================= T I T L E  A M E N D M E N T ================
   49         And the title is amended as follows:
   50         Delete lines 77 - 78
   51  and insert:
   52         discriminatory factors; requiring all insurers seeking
   53         a certain rate to make a “file and use” filing;
   54         prohibiting the Office of Insurance