Florida Senate - 2021                          SENATOR AMENDMENT
       Bill No. CS for CS for CS for SB 76
       
       
       
       
       
       
                                Ì597028;Î597028                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 2/F/RM          .                                
             04/30/2021 09:41 AM       .                                
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       Senator Cruz moved the following:
       
    1         Senate Amendment to House Amendment (334081) (with title
    2  amendment)
    3  
    4         Between lines 1208 and 1209
    5  insert:
    6         Section 16. (1) For insurers writing residential or
    7  commercial insurance on property as defined in s. 624.604,
    8  Florida Statutes, the rates in effect on July 1, 2021, remain in
    9  effect until December 31, 2022, except for any rate change that
   10  results in a lower rate.
   11         (2) The next rate change that may increase rates must take
   12  effect pursuant to a new rate filing submitted to the Office of
   13  Insurance Regulation pursuant to s. 627.062, Florida Statutes.
   14         (3) The office shall conduct a comprehensive data call
   15  using the closed claim data collected pursuant to s.
   16  624.424(11), Florida Statutes, and, by January 1, 2023, shall
   17  publish an actuarial report based upon the results of the data
   18  call. The report must identify the impact of this act on
   19  property insurance rates. The results of the report must be used
   20  as a factor in determining future rates and rating schedules and
   21  in the creation of rating manuals.
   22  
   23  ================= T I T L E  A M E N D M E N T ================
   24  And the title is amended as follows:
   25         Delete line 1330
   26  and insert:
   27         certain circumstances; providing that rates for
   28         certain insurers remain in effect until a specified
   29         date; providing an exception; specifying requirements
   30         for rate changes after such date; requiring the office
   31         to conduct a data call and publish an actuarial
   32         report; specifying requirements for such report;
   33         providing an effective date.