HB 581 (2014) -  Flood Insurance

by Ahern and Fitzenhagen (CO-SPONSORS) Beshears; Caldwell; Combee; Eagle; Gibbons; Hager; Harrell; Hood; Murphy; Perry; Peters; Pilon; Raschein; Rehwinkel Vasilinda; Rodrigues, R.; Rogers; Spano; Van Zant; Zimmermann
Adds projected flood losses to factors that must be considered by OIR in reviewing certain rate filings; increases membership of Florida Commission on Hurricane Loss Projection Methodology; requires commission to adopt standards & guidelines relating to flood loss by certain date; authorizes insurers to offer flood insurance in this state; establishes minimum coverage requirements for such policies; provides coverage limitations that an insurer may include in such policies; requires that certain limitations be noted on policy declarations or face page; provides insurer with rate options; requires insurer to provide notice that flood insurance is available from National Flood Insurance Program; allows insurer to export contract or endorsement of certain amount to surplus lines insurer without meeting certain requirements; provides prior notice requirements for cancellation or nonrenewal of policy; requires insurer to notify office before writing flood insurance & to file plan of operation with office; provides preemption for any conflicts with other provisions of Florida Insurance Code; requires Commissioner of OIR to provide certification that condition qualifies for flood insurance or disaster assistance.
Effective Date: upon becoming a law
Last Event: Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/CS/CS/SB 542 (Ch. 2014-80), SB 1262 (Ch. 2014-98) on Friday, May 2, 2014 10:39 PM

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/CS/CS/SB 542 (Ch. 2014-80), SB 1262 (Ch. 2014-98) Time: 05/02/2014 - 10:39 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 03/04/2014 - 11:50 PM Member: Committee: Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Regulatory Affairs Committee Time: 01/27/2014 - 5:35 PM Member: Committee: Regulatory Affairs Committee Version: __
Event: H Referred to Government Operations Appropriations Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Government Operations Appropriations Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Filed Time: 01/13/2014 - 4:27 PM Member: Ahern Committee: Version: __