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The Florida Senate

CS/HB 1023: Insolvent Insurers

GENERAL BILL by Commerce Committee ; Fabricio

Insolvent Insurers; Provides required factors to be used in determination & fixing of rates for premiums paid to insolvent insurers for specified coverages; authorizes insurers to elect not to recoup advance assessments paid to Florida Insurance Guaranty Association, Incorporated; provides calculations of insurers' assets under specified circumstances; revises provisions relating to payments of assessments & insurers' reconciliation reports to association; requires insurers to pay assessments to association, rather than to collect such assessments; specifies payments that certain insurers must make to association; requires insurers to treat insureds' failure to pay surcharges, rather than recoupment charges, as failure to pay premiums; provides that insurers are liable for surcharges & are not liable for uncollectible surcharges; removes requirement that insurers treat insureds' failure to pay emergency assessments as failure to pay premiums; revises provisions relating to insurers' collection of surcharges & payments of assessments to Florida Workers' Compensation Insurance Guaranty Association, Incorporated.

Effective Date: 7/1/2022
Last Action: 5/26/2022 - Chapter No. 2022-139
Bill Text: PDF

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  • Bill History

    Date Chamber Action
    12/27/2021 House • Filed
    1/7/2022 House • Referred to Insurance & Banking Subcommittee
    • Referred to State Administration & Technology Appropriations Subcommittee
    • Referred to Commerce Committee
    • Now in Insurance & Banking Subcommittee
    1/11/2022 House • 1st Reading (Original Filed Version)
    1/25/2022 House • Added to Insurance & Banking Subcommittee agenda
    1/27/2022 House • Favorable by Insurance & Banking Subcommittee
    • Reported out of Insurance & Banking Subcommittee
    • Now in State Administration & Technology Appropriations Subcommittee
    2/4/2022 House • Added to State Administration & Technology Appropriations Subcommittee agenda
    2/8/2022 House • Favorable by State Administration & Technology Appropriations Subcommittee
    • Reported out of State Administration & Technology Appropriations Subcommittee
    • Now in Commerce Committee
    2/15/2022 House • Added to Commerce Committee agenda
    2/17/2022 House • Favorable with CS by Commerce Committee
    • Reported out of Commerce Committee
    • Laid on Table under Rule 7.18(a)
    • CS Filed
    • 1st Reading (Committee Substitute 1)
    2/18/2022 House • Bill referred to House Calendar
    • Added to Second Reading Calendar
    2/24/2022 House • Bill added to Special Order Calendar (3/1/2022)
    3/1/2022 House • Read 2nd time
    • Placed on 3rd reading
    • Added to Third Reading Calendar
    3/2/2022 House • Read 3rd time
    • CS passed; YEAS 116, NAYS 0
    3/2/2022 Senate • In Messages
    • Referred to Appropriations -SJ 537
    • Received -SJ 537
    3/4/2022 Senate • Withdrawn from Appropriations -SJ 665
    • Placed on Calendar, on 2nd reading
    • Substituted for CS/CS/SB 1430 -SJ 665
    • Read 2nd time -SJ 665
    • Read 3rd time -SJ 665
    • CS passed; YEAS 36 NAYS 0 -SJ 665
    3/4/2022 House • In Messages
    • Ordered enrolled
    5/20/2022 • Signed by Officers and presented to Governor
    5/25/2022 • Approved by Governor
    5/26/2022 • Chapter No. 2022-139

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  • CS/HB 1023, Enrolled (Current Bill Version) Posted 3/4/2022 at 3:24 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1430 (c2) Insolvent Insurers Burgess Similar Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665

    Citations - Statutes (3)

    Citation Catchline Location in Bill Location In Bill Help
    627.072 Making and use of rates. Page 2 (pdf)
    631.57 Powers and duties of the association. Page 2 (pdf)
    631.914 Assessments. Page 8 (pdf)

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  • CS/HB 1023, Committee Substitute 1 Posted 2/17/2022 at 6:10 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1430 (c2) Insolvent Insurers Burgess Similar Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665

    Floor Votes (2)

    Date Chamber Result
    3/2/2022 5:50 PM House 116 Yeas - 0 Nays
    3/4/2022 2:11 PM Senate 36 Yeas - 0 Nays

    Citations - Statutes (3)

    Citation Catchline Location in Bill Location In Bill Help
    627.072 Making and use of rates. Page 2 (pdf)
    631.57 Powers and duties of the association. Page 2 (pdf)
    631.914 Assessments. Page 8 (pdf)

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  • HB 1023, Original Filed Version Posted 12/27/2021 at 10:00 AM

    Bill Text:   PDF
    Analyses:   Insurance and Banking Subcommittee (Post-Meeting) 5/26/2022 (pdf)
    State Administration and Technology Appropriations Subcommittee (Post-Meeting) 2/8/2022 (pdf)
    Commerce Committee (Post-Meeting) 2/17/2022 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1430 (c1) Insolvent Insurers Burgess Identical Last Action: 3/4/2022 S Laid on Table, companion bill(s) passed, see CS/HB 1023 (Ch. 2022-139) -SJ 665

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    557425 - Amendment
    Remove lines 71-160 and insert:
    Fabricio 2/16/2022
    5:35 PM
    Adopted without Objection
    2/17/2022
    PDF

    Citations - Statutes (3)

    Citation Catchline Location in Bill Location In Bill Help
    627.072 Making and use of rates. Page 2 (pdf)
    631.57 Powers and duties of the association. Page 2 (pdf)
    631.914 Assessments. Page 8 (pdf)

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