Florida Senate - 2022                        COMMITTEE AMENDMENT
       Bill No. SB 186
       
       
       
       
       
       
                                Ì811218ÊÎ811218                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  01/26/2022           .                                
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       The Committee on Banking and Insurance (Brandes) recommended the
       following:
       
    1         Senate Substitute for Amendment (565560) 
    2  
    3         Between lines 825 and 826
    4  insert:
    5         8. Policies assumed by the corporation from an unsound
    6  insurer shall be charged a premium for coverage that is the
    7  higher of the last premium amount charged by the unsound insurer
    8  or the premium charged by the corporation applicable to the
    9  policy. Premiums established by the unsound insurer shall remain
   10  unchanged until such time as the corporation’s rate exceeds this
   11  amount and the policy becomes subject to the corporation’s
   12  annually approved rate. For purposes of this subparagraph, the
   13  term “unsound insurer” means an insurer determined by the Office
   14  of Insurance Regulation to be in unsound condition as defined in
   15  s. 624.80(2) or an insurer placed in receivership under chapter
   16  631.