Florida Senate - 2016                          SENATOR AMENDMENT
       Bill No. CS for CS for CS for SB 1036
       
       
       
       
       
       
                                Ì877040{Î877040                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 1/AD/2R         .                                
             03/09/2016 05:41 PM       .                                
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       Senators Brandes, Richter, and Latvala moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Before line 34
    4  insert:
    5         Section 1. Subsection (8) of section 627.0651, Florida
    6  Statutes, is amended to read:
    7         627.0651 Making and use of rates for motor vehicle
    8  insurance.—
    9         (8) Rates are not unfairly discriminatory if averaged
   10  broadly among members of a group; nor are rates unfairly
   11  discriminatory even though they are lower than rates for
   12  nonmembers of the group. However, such rates are unfairly
   13  discriminatory if they are not actuarially measurable and
   14  credible and sufficiently related to actual or expected loss and
   15  expense experience of the group so as to assure that nonmembers
   16  of the group are not unfairly discriminated against. Use of a
   17  single United States Postal Service zip code as a rating
   18  territory shall be deemed unfairly discriminatory unless filed
   19  pursuant to paragraph (1)(a) and the justification for its rate
   20  incorporates sufficient actual or expected loss and loss
   21  adjustment expense experience so as to be actuarially sound. The
   22  office shall require that any rate filing resulting from the use
   23  of a single zip code as a rating territory does not contain a
   24  rate or rate change that is excessive, inadequate, or unfairly
   25  discriminatory.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete line 2
   30  and insert:
   31         An act relating to automobile insurance; amending s.
   32         627.0651, F.S.; providing an exception to a provision
   33         that deems use of a single zip code as a rating
   34         territory for insurance rates to be unfairly
   35         discriminatory; requiring the Office of Insurance
   36         Regulation to ensure that rates or rate changes
   37         contained in certain rate filings are not excessive,
   38         inadequate, or unfairly discriminatory; amending s.