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Florida Insurance Legislation Update

Here is a summary of the insurance-related bills passed during the 2010 Florida legislative session.

By Thomas J. Maida, Leonard Schulte | Updated on May 17, 2010

In the closing days of the 2010 regular session of the Florida Legislature, the House and Senate reached agreement on a wide range of insurance issues. Some of the more ambitious initiatives, such as rate deregulation for residential property insurance, did not survive, but the Legislature did pass several important proposals. Now that the dust has settled and all of the insurance bills passed during the session have either been signed by the governor or await his decision, here is a quick summary. Property Insurance Senate Bill 2044 includes several issues that were sought by the Florida Office of Insurance Regulation (OIR), including increased surplus requirements and increased regulatory authority over managing general agents and other affiliates. The bill also contains provisions sought by insurers, including restrictions on public adjusters. Among the more important provisions:

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