Bill Summary

SB 1712 Florida Hurricane Catastrophe Fund and Reinsurance Assistance (2025 Session)
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Sponsors
by DiCeglie
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Summary
Florida Hurricane Catastrophe Fund and Reinsurance Assistance; Specifying the retention multiple for specified contracts under the Florida Hurricane Catastrophe Fund program beginning on a certain date; providing the adjusted retention multiple for insurers electing the 100-percent coverage level; authorizing, rather than requiring, a certain formula to provide for a cash build-up factor; requiring the cash build-up factor to be frozen beginning in a specified contract year and to freeze for a specified period ending by a specified date; authorizing, rather than requiring, eligible RAP insurers to purchase RAP coverage; revising the coverage layers of the Florida Optional Reinsurance Assistance (FORA) program, etc. Effective Date: Upon becoming a law
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committees of reference
» S Banking and Insurance
   S Appropriations Committee on Agriculture, Environment, and General Government
   S Fiscal Policy
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Actions
02/28/25
SENATE
Filed
03/07/25
SENATE
Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
05/03/25
SENATE
Indefinitely postponed and withdrawn from consideration
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bill text & filed amendments
1712
Filed on 02/28/25
PDF
No amendments to this bill text filed.
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Statute Citations
215.555
215.5551
215.5552
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