CS/HB 881: Insurance

GENERAL BILL by Insurance & Banking Subcommittee, Griffitts

Insurance; Provides procedures & timelines for objecting, & responding to objections, to sufficiency of evidence submitted by claimants to insurers; requires FDLE to accept certain fingerprints; specifies that certain criminal records must be used by OIR for certain purposes; establishes standards for compensation arrangements & oversight of affiliate transactions involving insurers, managing general agents, & attorneys in fact; requires certain rate filings with OIR from residential property insurers to include rate transparency reports; provides reporting requirements relating to universal life insurance policies; provides authority of OIR over affiliate dividends; authorizes assessable & nonassessable reciprocal insurers, rather than domestic reciprocal insurers, to transact insurance if they maintain specified amounts of surplus funds; provides that attorneys in fact of reciprocal insurers are affiliated entities; authorizes reciprocal insurers to require subscriber contributions; authorizes reciprocal insurers to establish subscriber savings accounts; specifies manner in which impaired reciprocal insurers are proceeded against if they cannot make up deficiencies in assets; specifies manner in which assessments are levied upon subscribers if reciprocal insurers are liquidated; requires reciprocal insurers to maintain unearned premium reserves at all times.

Current Bill Version Posted: 4/7/2025 05:59 PM

• Related Bills (7)

  Bill Number Subject Filed By Last Action and Location	Relationship Learn more about bill relationships
  H 643 (c2) by Insurance & Banking Subcommittee Insurance Last Action: 5/3/2025 S Indefinitely postponed and withdrawn from consideration	Compare
  H 991 (c2) by State Affairs Committee Community and Economic Development Last Action: 4/25/2025 H Laid on Table, refer to CS/SB 110	Compare
  H 1047 (c1) by Insurance & Banking Subcommittee Insurance Last Action: 5/3/2025 H Indefinitely postponed and withdrawn from consideration	Compare
  H 1141 by Fabricio Insurance Regulations Last Action: 2/26/2025 H Withdrawn prior to introduction	Compare
  H 1429 by Fabricio Insurance Regulations Last Action: 5/3/2025 H Indefinitely postponed and withdrawn from consideration	Compare
  S 1428 by DiCeglie Consumer Protection in Insurance Matters Last Action: 5/3/2025 S Indefinitely postponed and withdrawn from consideration	Compare
  S 1656 (c1) by Collins Insurance Regulations Last Action: 5/3/2025 S Indefinitely postponed and withdrawn from consideration	Compare

• Analyses (1)

  Links in this section are PDF documents.

  • Insurance & Banking Subcommittee (Post-Meeting)   4/8/2025

• Citations - Statute (25)

  The page numbers, when listed, for citations are constantly under review. The journals or printed bills of the respective chambers should be consulted as the official documents of the Legislature.
  
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  624.155	Civil remedy.	Page 6 [pdf]
  624.341		Page 7 [pdf]
  624.347		Page 10 [pdf]
  624.424	Annual statement and other information.	Page 14 [pdf]
  624.45	Participation of financial institutions in reinsurance and in insurance exchanges.	Page 35 [pdf]
  626.854	“Public adjuster” defined; prohibitions.	Page 15 [pdf]
  627.4823		Page 15 [pdf]
  628.371	Dividends to stockholders.	Page 18 [pdf]
  628.372		Page 22 [pdf]
  628.461	Acquisition of controlling stock.	Page 22 [pdf]
  629.011	Definitions.	Page 24 [pdf]
  629.071	Surplus funds required.	Page 25 [pdf]
  629.082		Page 26 [pdf]
  629.121	Attorney’s bond.	Page 26 [pdf]
  629.162		Page 27 [pdf]
  629.163		Page 27 [pdf]
  629.164		Page 28 [pdf]
  629.171	Annual statement.	Page 30 [pdf]
  629.201	Subscribers’ advisory committee.	Page 30 [pdf]
  629.271	Distribution of savings.	Page 32 [pdf]
  629.291	Merger or conversion.	Page 33 [pdf]
  629.301	Impaired reciprocal insurers.	Page 33 [pdf]
  629.401	Insurance exchange.	Page 34 [pdf]
  629.520	Authority of a limited reciprocal insurer.	Page 35 [pdf]
  629.56		Page 35 [pdf]

• Bill History

  S = Senate, H = House

  2/21/2025	H	• Filed
  3/2/2025	H	• Referred to Insurance & Banking Subcommittee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee
  3/4/2025	H	• 1st Reading (Original Filed Version)
  4/1/2025	H	• PCS added to Insurance & Banking Subcommittee agenda
  4/3/2025	H	• Favorable with CS by Insurance & Banking Subcommittee
  4/7/2025	H	• Reported out of Insurance & Banking Subcommittee • Laid on Table under Rule 7.18(a) • CS Filed
  4/8/2025	H	• Referred to Commerce Committee • Now in Commerce Committee • 1st Reading (Committee Substitute 1)
  5/3/2025	H	• Indefinitely postponed and withdrawn from consideration