TALLAHASSEE – A controversial House insurance “glitch” bill that rolls back some of the consumer ... Bill rolling back insuranc | Life Insurance
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TALLAHASSEE – A controversial House insurance “glitch” bill that rolls back some of the consumer ... Bill rolling back insuranc

TALLAHASSEE – A controversial House insurance “glitch” bill that rolls back some of the consumer benefits passed just three months ago reappears today on the floor.

House insurance chief Ron Reagan brings back HB-7077, tabled on third reading for nearly a month after it stalled on the House floor in March. He is offering an 88-page strike-all amendment that is meant to grease the bill for passage, at least through the House.

The bill exempts medical malpractice insurers from having to pay the same assessments as other insurance lines if the state catastrophe fund goes broke. Without the change, those companies would have been exposed to such assessments starting this year.

It limits new state deadlines on claims payments, as well as newly required state report cards on insurers, to just property insurance companies. Claims paid after the 90-day deadline would earn interest for the homeowner, and only regulators could take action against a company that doesn't pay on time.

And it allows members of Citizens Property Insurance board of governors to also hold contractual relationships with the state-run insurance company.

HB-1267 also reaches the House floor. It is a bill originally containing Gov. Charlie Crist's provision lowering the bar for Citizens Property Insurance to compete with private insurers. A House committee earlier in the week gutted that portion of the bill. Crist said Wednesday he wouldn't give up and is hoping for amendments.

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admin – Thu, 2007 – 04 – 26 11:00