Legislator Florida, the insurance industry weighs changes

Legislative leader in Florida, who confront the public and the press with increasing pressure this week, undertook to investigate the financial structures of the ownership insurers. And legislative templates that were submitted before the start of the legislator of 2025 this week would also have to require the disclosure of employees by managers and other changes that could affect insurance agents and insured persons.

Here is a look at some of the problems that the legislators are considering Florida when convening in Tallahassee.

Omgs on Mgas

The newly curved house spokesman Danny Perez, R-Mami, announced on Tuesday an investigation of the relationships between real estate insurance institutions and their business agents and other connected companies. The request for the hearing of the house procedure came a week after the Tampa Bay Times and Miami Herald reported that an analysis of 2022 by the Florida Office of Insurance Regulation only made available after two years on request for public records that insurers had derived billions of companies with company companies, while they were about the hurricanes and claims of hurricane and claims from litigation.

It is anything but certain whether the speaker's examination will lead to new restrictions or new reporting requirements for Florida airlines and MGAS. It is not the first time that the problem has been addressed.

Insurance brokers and industry representatives and lobbyists have returned the news report and the call for further investigations. Several have found that the MGA agreements that the airlines already use must be approved by OIR, and that it would be absurd to intentionally sink into bankruptcy for insurance points to deliberately sink into bankruptcy and at the same time.

The Tampa Bay Times reported: “The comment glides that many connected companies have re -poured almost 700 million US dollars back to the insurance companies in order to keep them from bankruptcy,” wrote Alan McGinnis, director of McGinnnis Himmel Insurance Agency in Tallahasee. His guest column was published in Politics Florida and in the last blog posts in insurance consultants.

In the meantime, legislative changes in recent years have slowly but safely function to bring new capital and new airlines to the Florida market, with the rate increase slowing down.

Invoices in the funnel

Even without an examination of the house on the table, the insurance costs for homeowners Florida remain number one, BG Murphy from the Florida Association of Insurance Agents' said in a recent webinar. At the same time, the company leaders of Florida and insurance manager and agent have asked the legislators to promote changes to reforms 2022-2023 that did not control disposable lawyers' fees and did not control and costly legal disputes.

The opposing feelings have led to several bills that observe insurance interests this year.

House bill 643

HB 643 by Rep. John Snyder, R-Palm Beach, is the top priority for the FAIA. It would make it easier for the agents to lay commercial and commercial insurance companies to excess limits and the guidelines for the real estate insurance of Citizens Property Insurance Corp. for sale. Agents should no longer be necessary to make a “hardworking effort” to find a cover before the cover receives excess lines.

“The hardworking requirement does not make a purpose,” said Murphy.

The legislation would also soften the request of 2024 that agents are appointed with at least three airlines before they write the politics of citizens. As part of HB 643, agents could receive an signed explanation that shows that they have access to primary market carriers through a broker.

Senate Bill 230

This omnibus bill sponsored by Rep. Keith Truenow, R-Tavares, a number of changes would make. For agents, it would be the number of pre-licensing hours from 200 to 60 reducing a change of standard, which strongly pronounces FAIA. That would “stupid” the demands on agents, which only a few people really want, said Dave Newell from Faia.

However, the measure would also make it a little easier for insurers to avoid poor claims by further clarifying the law of 2022, in which a court determines that the contract for the guideline contract has been violated before additional contract damage can be requested. It would also require the plaintiffs to provide the required precise damage amounts and exclude the lawyers' fees of damage. If insurers need further information from policyholders, this would have to be requested within a period of 60 days, whereby 10-day extensions are permitted.

It would also prevent public directories from leading insurance regulators, including the staff of the recording insurers, to controversial behavior. In recent years, this has been a problem in which the citizens and other airlines described that some public lists have physically threatened the claims of insurers, took on video recordings and took other measures to thwart inspections.

SB 592 and HB 393

The invoices would extend the popular My Safe Florida Condominium Pilot program, but make it clear that some separated buildings are not justified for the grants. It would only enable 75% of the unit owners to agree to apply for the program, not the current level of 100%. It would only be condominium buildings of three floors or higher.

For setting measures, loss measures, SB 1466 and HB 851By Rep. Chip Lamarca would set up a trust fund that would deliver up to 300 million US dollars for the My Safe Florida Home program every year. It would land 5% of sales tax revenue from the hurricane districts in the two months after a storm.

SB 128

SB 128 by Senator Danny Burgess, R -Zephyrhills, can attract some attention, as it seems to be consumer -friendly in a time of increasing concerns about insurance companies and practices. But it has led to a certain confusion in the industry.

The invoice would require a cancellation and not renewed information at least 45 days before the termination date will be sent by post and by e -mail. However, the law of Florida already requires 120-day notice for most non-injuries and cancellations. SB 790 and HB 941 would cancel insurers at least 90 days after repairing guidelines.

HB 705

The measure would be free from the sliding path, a legal mechanism that limits the interest rate increase of citizens every year. The change would be very controversial, but is considered freely market -friendly.

Primary market insurance manager and citizen of the TOP -MESSING have all challenged an end to the sliding path in order to be a real insurer of market prices for the last way out and fees or higher, which could promote more competition. The Insurance Commissioner of Florida and Oir recently reduced an proposed interest rate of citizens in half and held the premiums for the airlines in many areas of the state lower than other insurers.

SB 554/HB551

The Senator of the State of Don Gaetz was in Florida's legislation for a few years until he retired in 2016. Now he is back after he has been re -elected last autumn. His draft law, SB 554, would make a number of revisions that can be regarded as consumer -friendly, but they say that insurers and agents say that they would relax most of the reforms of 2022 litigation.

The measure would abolish the ban on disposable lawyers' fees of 2022 and replace it with a shift. It would also require a stronger disclosure of remuneration packages for the executives of insurers.

SB 734/HB6017

The invoices would not enable dependent family members to submit medical charges. Long a problem in Florida, the current statute “Free Kill”, as it is mockingly known, only limits the crime campaigns to spouses or dependent children of people who were fatally injured in medical treatment. Critics, including the Florida Justice Reform Institute, Insurance Companies and Medical Providers, said that the adoption of the measures would significantly increase the number of complaints submitted in the state.

This year, dozens of other legislative templates were submitted, including one that would make citizens a wind insurer for all of Florida. However, many of these offers are not expected to see a lot of traction. Since the weeks before the regular session were taken over with immigration calculations, this left little time for committee measures against insurance legislation, which means that the legislature now only has about five weeks to postpone the invoices about the finish line, explained the former deputy insurance commissioner Lisa Miller.

Topfoto: The State Capitol building in Tallahassee (Adobe Stock Images)

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Florida legization market