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Senate Bill 836 by Senator Latvala passed out of the Senate with a unanimous vote in support and has now been sent over to the House, where it was substituted for House Bill 557 and sent to the Governor. Previously reported on in-depth, the bills would revise the procedure in which insurers pay and recoup assessments levied against them by the Florida Insurance Guaranty Association (“FIGA”). It would allow for more opportunities for insurers to remit assessments after they are collected from policyholders, rather than advancing the funds to FIGA, at the option of FIGA.



Senate Bill 1094 by Senator Brandes passed out of the Senate with a unanimous vote in support and was sent over to the House. Its companion, House Bill 895 by Representative Ahern, was substituted for the Senate version and passed the House with an 89-26 vote in support. The bill now heads to the Governor, to be signed into law.


Reported last week in-depth, the bill would revise the flood insurance reform passed by the Legislature last year. The bill allows for the sale of “flexible flood insurance” and allowing private insurers to obtain certification from the OIR, which would state and compare the coverage specification of the policy with that of the National Flood Insurance Program (“NFIP”). “Flexible Flood Insurance” allows consumers to purchase flood coverage limits which will cover the outstanding mortgage, but will not be enough to repair the home. The bill also allows insurers to provide credits to the policyholder if the OIR determines that the rate being charged was excessive. This practice would be done in lieu of cash refunds.


Senate Bill 842 by Senator Benacquisto was substituted on the Senate floor for its House companion, House Bill 715 by Representative Raschein, which had already passed out of the House with a unanimous vote in support. The bill then passed the Senate with a unanimous vote in support as well. The bill now heads to the Governor’s desk for consideration.


As discussed in past weeks, the bill would allow a home existing seaward of the coastal construction line (“CCL”) to be substantially improved and still be eligible to receive Citizens coverage. Such improvements could be the repair, reconstruction, rehabilitation, or improvement to the structure that costs 50% or more of the market value. The bill would continue the prohibition against Citizens coverage eligibility for new homes seaward of the CCL.