Important Legislative Issues
by John Pisula
- PIP Repeal (HB1063 and SB1766) continues to be debated. Though the House and Senate versions are very different, each contains mandates for BI and would be effective January 1, 2018.
- AOB (HB1421 and SB1218) appears to be going nowhere at this point.
- Workers’ Compensation (HB7085 and SB1582) meaningful reform seems to be getting put off at this point as the two bills are not similar in meeting the goals supported by the business and insurance industry.
- Diligent Effort interpretation was cleared up by DFS and it is no longer an issue, FAIA stated that “agents can export CR risks on a difference in coverage and properly filling out the DE form”.
The approved rate of 14.5% set to begin December 1, 2016. This is below the 19.6% sought by National Council on Compensation Insurance (NCCI).
Florida Insurance Commissioner David Altmaier hinted at such a decision during his speech September 22, 2016 at the IIABC Installation Dinner.
CPIC acknowledges a need to raise HO rates due to the high cost of water damage claims and assignment of benefits costs in their claims handling. We need to keep up the pressure to address these issues in our legislative agenda.
Article available on the link below:
CPIC June 22, 2016 – Maitland
The 2016 session of the Florida Legislature is in the home stretch, and lawmakers are still working toward a solution on many important issues, including assignment of benefits (AOB).
Shrinking Citizens should be a good sign of a robust private sector.
Read press release from Citizens on latest policy count below:
Click here for Citizens Press Release