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HB 1307 (2015) -  Citizens Property Insurance Corporation

by Raulerson
Revises definition of term "covered policy"; exempts additional specified activities of corporation from certain requirements; revises requirements relating to quota share primary insurance agreements; requires corporation's plan of operation to adopt program that facilitates removal of certain residential risks; specifies limitations on participation in such program; deletes & revises related terms; provides that entering into specified agreements is at discretion of insurer; provides that if corporation is reinsurer, all forms & endorsements must be approved by OIR; prohibits corporation from sharing risk for certain damages; requires corporation & each insurer to report additional information to fund & requires SBA to adopt rules to administer such requirement; revises procedures for determining whether risk is eligible for corporation.
Effective Date: July 1, 2015
Last Event: Died in Insurance & Banking Subcommittee on Tuesday, April 28, 2015 1:15 PM

Referred Committees and Committee Actions

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 Time: 04/28/2015 - 1:15 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 03/08/2015 - 7:33 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Regulatory Affairs Committee Time: 03/08/2015 - 7:33 PM Member: Committee: Regulatory Affairs Committee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 03/08/2015 - 7:33 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 03/03/2015 - 10:37 PM Member: Committee: Version: __
Event: H Filed Time: 03/03/2015 - 11:47 AM Member: Raulerson Committee: Version: __