Bill Summary
SB 408 Property and Casualty Insurance (2011 Session)
Richter Co Sponsors: Hays CS Sponsors: Rules, Budget Subcommittee on General Government Appropriations, Banking and Insurance
Property and Casualty Insurance; Specifies a statute of limitation for a breach of a property insurance contract runs from the date of loss. Revises the definition of "losses," relating to the Florida Hurricane Catastrophe Fund, to include and exclude certain losses. Authorizes an insurer to renegotiate the terms of a surplus note issued before a certain date. Revises the amount of surplus funds required for domestic insurers applying for a certificate of authority. Authorizes the OIR to reduce the surplus requirement under specified circumstances, etc. EFFECTIVE DATE: May 17, 2011 except as otherwise provided
01/12/11
SENATE
Filed
01/21/11
SENATE
Referred to Banking and Insurance; Budget; Rules
01/21/11
SENATE
On Committee agenda - Banking and Insurance, 01/25/11, 1:45 pm, 412 K
01/25/11
SENATE
Temporarily postponed by Banking and Insurance
01/27/11
SENATE
On Committee agenda - Banking and Insurance, 02/07/11, 10:15 am, 412 K
02/07/11
SENATE
Temporarily postponed by Banking and Insurance
02/11/11
SENATE
On Committee agenda - Banking and Insurance, 02/22/11, 1:00 pm, 412 K
02/22/11
SENATE
Favorable with CS by Banking and Insurance; 7 Yeas, 3 Nays
02/24/11
SENATE
Committee Substitute Text (C1) Filed
02/25/11
SENATE
Now in Budget
03/08/11
SENATE
Subreferred to Budget Subcommittee on General Government Appropriations
03/08/11
SENATE
Now in Budget Subcommittee on General Government Appropriations
03/08/11
SENATE
On Committee agenda - Budget Subcommittee on General Government Appropriations, 03/11/11, 8:00 am, 401 S
03/11/11
SENATE
Favorable with CS by Budget Subcommittee on General Government Appropriations; 6 Yeas, 0 Nays
03/14/11
SENATE
Committee Substitute Text (C2) Filed
03/14/11
SENATE
Now in Budget
03/14/11
SENATE
On Committee agenda - Budget, 03/15/11, 3:15 pm, 412 K
03/15/11
SENATE
Temporarily postponed by Budget
03/17/11
SENATE
On Committee agenda - Budget, 03/22/11, 10:15 am, 412 K
03/22/11
SENATE
Favorable with 1 Amendment by Budget; 12 Yeas, 8 Nays
03/31/11
SENATE
Now in Rules
03/31/11
SENATE
On Committee agenda - Rules, 04/05/11, 8:00 am, 110 S
04/05/11
SENATE
Favorable with CS by Rules; 9 Yeas, 3 Nays
04/07/11
SENATE
Committee Substitute Text (C3) Filed
04/07/11
SENATE
Placed on Calendar, on second reading
04/25/11
SENATE
Placed on Special Order Calendar for 04/27/11
04/27/11
SENATE
Read Second Time; Amendments Adopted (117314, 136604, 151382, 343842, 407132, 426476, 453922, 488760, 762998, 926644, 957742); Amendments Failed (173446, 415180, 445890, 544312); Amendments Withdrawn (208910, 216520, 365730, 455150, 497744, 577456, 691464) ; Ordered Engrossed
04/27/11
SENATE
Engrossed Text (E1) Filed
04/27/11
SENATE
Placed on Third Reading
04/28/11
SENATE
Read Third Time; Amendments Adopted (793532, 885590); Passed (Vote: 25 Yeas / 12 Nays)
04/28/11
SENATE
Engrossed Text (E2) Filed
04/29/11
HOUSE
In Messages
05/02/11
HOUSE
Referred to Calendar
05/02/11
HOUSE
Placed on Special Order Calendar for 05/03/11
05/03/11
HOUSE
Read Second Time; Amendments Failed (877895, 383513, 128609, 133399, 657665, 614831); Amendments Withdrawn (77045, 100743); Amendment Adopted (399507)
05/03/11
HOUSE
Placed on Third reading
05/04/11
HOUSE
Read Third Time; Amendments Adopted (189639, 786885, 409429, 376165, 365615); Passed (Vote: 85 Yeas / 33 Nays)
05/04/11
SENATE
In returning messages
05/05/11
SENATE
Received from Messages; Amendments Failed (345548, 499748, 975732, 527646, 632378); Concurred with Amendment (844961); Passed (Vote: 26 Yeas / 11 Nays)
05/05/11
SENATE
Ordered engrossed, then enrolled
05/06/11
SENATE
Engrossed Text (E3) Filed
05/06/11
SENATE
Enrolled Text (ER) Filed
05/11/11
______
Signed by Officers and presented to Governor (Governor must act on this bill by 05/26/11)
05/17/11
______
Approved by Governor; Chapter No. 2011-39
No amendments to this bill text filed.
No amendments to this bill text filed.
215.555
215.5595
624.407
624.408
626.70132
626.854
626.8796
627.0613
627.062
627.06281
627.0629
627.351
627.3511
627.4133
627.43141
627.7011
627.70131
627.706
627.7061
627.7065
627.707
627.7073
627.7074
627.711
627.712
631.54
95.11
Research & Reports
Revenue Estimating Coverence Reports, Veto, Transmittal letters and more. Learn more.
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Upcoming Events
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Press Releases
Related Press Announcements. Learn more.
- Florida Chamber of Commerce Urges Passage of Important Insurance Bill (SB 408)
- Tuesday: Bi-Partisan Coalition to Denounce Big Insurance Giveaways by FL Legislature
- Senator Fasano is Opposing Two Anti-Consumer Property Insurance Bills
- FAIA: Independent Agents Urge Repair of Florida's Insurance Market
- Legislature Passes Richter's Property Insurance Overhaul
- Senate Majority Leader Gardiner: Historic Session Results in Senate Republican Accomplishments
- Statement from Senator Mike Fasano to Governor Scott: Please Veto SB 408, the Property Insurance Bill and the 15% Premium Increase it Contains
- 2011 Bill Summary - SB 0408
- Sen. Garrett Richter: The Hard Truths about Florida Insurance Reforms
- Policyholders of Florida Join Fasano in Call for Scott to Veto SB 408
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