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CS/CS/HB 943 2026
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to the Citizens Property Insurance 2
Corporation; amending s. 627.351, F.S.; prohibiting 3
the corporation from issuing or renewing coverage for 4
commercial residential and commercial nonresidential 5
risks under certain circumstances; prohibiting the 6
corporation from imposing an equalization adjustment 7
under certain circumstances; providing applicability; 8
providing the components of the total cost of 9
insurance coverage; providing that the corporation is 10
not relieved from an obligation to impose an 11
equalization adjustment under certain circumstances; 12
providing that certain adjustments expire at a 13
specified time; defining the term "equalization 14
adjustment"; amending s. 627.3518, F.S.; deleting an 15
obsolete date; providing definitions; revising the 16
definition of the term "program"; requiring the 17
corporation to establish a personal lines 18
clearinghouse for specified purposes; requiring, on or 19
before a specified date, the corporation to amend its 20
plan of operation and implement a commercial lines 21
clearinghouse for a specified purpose; requiring, on 22
or before a specified date, the corporation to 23
implement a separate commercial lines clearinghouse 24
for specified purposes; deleting obsolete provisions; 25
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
revising the program's rights and responsibilities; 26
revising the rights and responsibilities the 27
corporation has in establishing the program; 28
authorizing a commercial lines clearinghouse 29
administrator to charge certain fees; authorizing the 30
corporation to share risk exposure and policy 31
information with the commercial lines clearinghouse 32
administrator; authorizing such administrator to use 33
such information for a specified purpose; authorizing 34
approved surplus lines clearinghouse insurers to 35
participate in the commercial lines clearinghouse; 36
prohibiting such insurers from participating in the 37
personal lines clearinghouse; specifying that 38
participation in the program is not mandatory for such 39
insurers; revising prohibitions and requirements for 40
insurers making offers of coverage to new applicants 41
or renewal policyholders through the program; 42
providing construction; defining the term "effective 43
commission percentage"; specifying that applicants for 44
new commercial lines residential coverage are not 45
eligible for coverage from the corporation under 46
certain circumstances; specifying the circumstances 47
under which policyholders of the corporation are not 48
eligible for new commercial lines residential coverage 49
from the corporation; requiring that the determination 50
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
of whether an offer of comparable coverage from an 51
authorized insurer is at or below the eligibility 52
threshold be made at a specified time; authorizing 53
applicants or insureds to elect to accept coverage 54
with authorized insurers or elect to accept or 55
continue coverage with the corporation under certain 56
circumstances; authorizing insureds to elect to accept 57
coverage with specified insurers or elect to accept or 58
continue coverage with the corporation under certain 59
circumstances; providing applicability; specifying 60
that certain applicants and policyholders remain 61
eligible for coverage from the corporation; 62
authorizing such applicants and policyholders to elect 63
to accept coverage from clearinghouse insurers or 64
elect to accept or continue coverage with the 65
corporation; authorizing certain applicants and 66
policyholders of the corporation to elect to accept 67
coverage from clearinghouse insurers or elect to 68
accept or continue coverage with the corporation; 69
requiring such applicants or policyholders to pay a 70
specified total cost of insurance for corporation 71
coverage; providing applicability; revising the rights 72
and authorizations for certain independent insurance 73
agents; deleting a prohibition relating to commercial 74
nonresidential policies; authorizing the Office of 75
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Insurance Regulation to review certain operational 76
processes related to the program; specifying the 77
contents of such review; requiring the office to 78
notify the corporation and submit written 79
recommendations to the Financial Services Commission 80
under certain circumstances; authorizing the 81
corporation to temporarily implement certain 82
recommendations; providing construction; requiring the 83
corporation and the commercial lines clearinghouse 84
administrator to implement specified procedures; 85
authorizing the office to review such procedures; 86
providing an effective date. 87
88
Be It Enacted by the Legislature of the State of Florida: 89
90
Section 1. Paragraph (oo) is added to subsection (6) of 91
section 627.351, Florida Statutes, to read: 92
627.351 Insurance risk apportionment plans.— 93
(6) CITIZENS PROPERTY INSURANCE CORPORATION.— 94
(oo) For commercial residential and commercial 95
nonresidential risks, if an approved surplus lines clearinghouse 96
insurer offers coverage under s. 627.3518(6)(c)2. and the total 97
cost of such coverage is not more than 20 percent greater than 98
the total cost of insurance coverage from the corporation, the 99
corporation may not issue or renew coverage unless it imposes an 100
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
equalization adjustment on such policy equal to the amount by 101
which the total cost of insurance coverage offered by the 102
approved surplus lines clearinghouse insurer exceeds the total 103
cost of insurance coverage from the corporation. If the total 104
cost of insurance from the approved surplus lines clearinghouse 105
insurer does not exceed the total cost of corporation coverage, 106
the corporation may not impose the equalization adjustment. If 107
more than one approved surplus lines clearinghouse insurer 108
offers coverage under s. 627.3518(6)(c)2., the lowest offered 109
total cost of insurance coverage applies for purposes of this 110
paragraph. The total cost of insurance coverage includes, but is 111
not limited to, the premium, fees, surcharges, and applicable 112
taxes. An offer submitted by a surplus lines clearinghouse 113
insurer which is declined by the applicant or policyholder, 114
expires, or is not accepted by the applicant or policyholder for 115
any reason does not relieve the corporation from its obligation, 116
if any, to impose an equalization adjustment as set forth in 117
this paragraph. An equalization adjustment applied pursuant to 118
this paragraph expires at the end of the policy term. For the 119
purposes of this paragraph, the term "equalization adjustment" 120
means a temporary policy-term-only adjustment applied solely for 121
purposes of evaluating and comparing offers of coverage on a 122
comparable basis under this section. An equalization adjustment 123
does not constitute a rate, premium, surcharge, or filing; does 124
not modify or affect any rate, rating plan, rule, or filing 125
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
approved for the corporation; and expires by operation of law at 126
the end of the applicable policy term. 127
Section 2. Section 627.3518, Florida Statutes, is amended 128
to read: 129
627.3518 Citizens Property Insurance Corporation 130
policyholder eligibility clearinghouse program.—The purpose of 131
this section is to provide a framework for the corporation to 132
implement a clearinghouse program by January 1, 2014. 133
(1) As used in this section, the term: 134
(a) "Approved surplus lines clearinghouse insurer" means 135
an eligible surplus lines insurer that has a financial strength 136
rating of "A-" or higher and a financial size category of A-VII 137
or higher from A.M. Best Company which the clearinghouse 138
administrator recommends for participation in the program and 139
which the office verifies meets the requirements for 140
participation in the program within 10 business days after the 141
commercial lines clearinghouse administrator's recommendation. 142
If the office does not complete such verification within the 10-143
business-day period, the insurer shall be deemed verified for 144
purposes of participation in the program. 145
(b) "Authorized insurer" means an insurer authorized to 146
act as an insurer by a subsisting certificate of authority 147
issued to the insurer by the office. 148
(c) "Commercial lines clearinghouse administrator" means 149
the individual or entity employed or otherwise contracted by the 150
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
corporation to provide administrative or professional services 151
to implement the commercial lines clearinghouse required 152
pursuant to subparagraph (2)(b)1. within the corporation as set 153
forth in paragraph (3)(b). 154
(d) "Comparable coverage" means coverage that has material 155
terms and conditions that are substantially equivalent to or 156
better than coverage from the corporation as to all aspects of 157
such coverage, as determined by the corporation through the 158
clearinghouse process and applicable program standards. 159
(e) "Corporation" means Citizens Property Insurance 160
Corporation. 161
(f)(b) "Exclusive agent" means any licensed insurance 162
agent that has, by contract, agreed to act exclusively for one 163
company or group of affiliated insurance companies and is 164
disallowed by the provisions of that contract to directly write 165
for any other unaffiliated insurer absent express consent from 166
the company or group of affiliated insurance companies. 167
(g)(c) "Independent agent" means any licensed insurance 168
agent not described in paragraph (f) (b). 169
(h) "Primary residence" has the same meaning as in s. 170
627.351(6)(c)2.a. 171
(i)(d) "Program" means the clearinghouse created under 172
this section, consisting of the personal lines clearinghouse and 173
the commercial lines clearinghouse. 174
(j) "Surplus lines agent" means an insurance agent 175
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
licensed pursuant to s. 626.927 or s. 626.9272. 176
(2)(a) The corporation shall establish a personal lines 177
clearinghouse in order to confirm an applicant's eligibility 178
with the corporation, and to enhance access of new applicants 179
for personal lines coverage and existing personal lines 180
policyholders of the corporation to offers of coverage from 181
authorized insurers, and the corporation shall establish a 182
program for personal residential risks in order to facilitate 183
the diversion of ineligible applicants and existing 184
policyholders from the corporation into the voluntary insurance 185
market. 186
(b)1. The corporation shall amend its plan of operation 187
and implement, on or before January 1, 2027, a commercial lines 188
clearinghouse in order to enhance access to offers of coverage 189
from approved surplus lines clearinghouse insurers for new 190
applicants for commercial residential coverage and commercial 191
nonresidential coverage and existing commercial residential and 192
commercial nonresidential policyholders of the corporation. 193
2. To facilitate the diversion of ineligible applicants 194
and existing policyholders from the corporation to authorized 195
insurers, the corporation shall implement, on or before January 196
1, 2027, a separate commercial lines clearinghouse to confirm 197
eligibility for coverage from the corporation and to enhance 198
access to offers of coverage from authorized insurers for new 199
applicants for commercial residential and commercial 200
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
nonresidential coverage and existing commercial residential and 201
commercial nonresidential policyholders of the corporation shall 202
also develop appropriate procedures for facilitating the 203
diversion of ineligible applicants and existing policyholders 204
for commercial residential coverage into the private insurance 205
market and shall report such procedures to the President of the 206
Senate and the Speaker of the House of Representatives by 207
January 1, 2014. 208
(3) The corporation board shall establish the 209
clearinghouse program as an organizational unit within the 210
corporation. The program shall have all the rights and 211
responsibilities in carrying out its duties as a licensed 212
general lines agent and a surplus lines agent, but may not be 213
required to employ or engage a licensed general lines agent or a 214
surplus lines agent, or to maintain an insurance agency license 215
to carry out its activities in the solicitation and placement of 216
insurance coverage. In establishing the program, the corporation 217
has all of the following rights and responsibilities may: 218
(a) Before binding or renewing coverage by the 219
corporation: 220
1. May require all new applications for personal lines 221
coverage, and all personal lines policies due for renewal, to be 222
submitted for coverage to the program in order to facilitate 223
obtaining an offer of coverage from an authorized insurer. 224
2. May, if the corporation establishes a clearinghouse 225
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
pursuant to subparagraph (2)b.2., require all new applications 226
for commercial lines coverage, and all commercial lines policies 227
due for renewal, to be submitted for coverage to the program in 228
order to facilitate obtaining an offer of coverage from an 229
authorized insurer. 230
3. Shall require all new applications for commercial lines 231
coverage, and all commercial lines policies due for renewal, to 232
be initially submitted for coverage through the commercial lines 233
clearinghouse as a single point of intake for both the 234
corporation and the program in order to facilitate obtaining an 235
offer of coverage from an approved surplus lines clearinghouse 236
insurer before binding or renewing coverage by the corporation. 237
(b) Shall establish and maintain the operational systems 238
and procedures necessary to implement the program. 239
(c) May employ or otherwise contract with individuals or 240
other entities for appropriate administrative or professional 241
services to effectuate the plan within the corporation in 242
accordance with the applicable purchasing requirements under s. 243
627.351 and, for purposes of implementing the commercial lines 244
clearinghouse and providing offers of coverage from approved 245
surplus lines clearinghouse insurers on or before January 1, 246
2027, contract with such individuals or entities in accordance 247
with s. 287.057. 248
(d)(c) May enter into contracts with any authorized 249
insurer and any approved surplus lines clearinghouse insurer to 250
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
participate in the program and accept an appointment by such 251
insurer. 252
(e)(d) May provide funds to operate the program. Insurers 253
and agents participating in the program are not required to pay 254
a fee to offset or partially offset the cost of the program or 255
use the program for renewal of policies initially written 256
through the clearinghouse. Notwithstanding this paragraph, any 257
commercial lines clearinghouse administrator may charge approved 258
surplus lines clearinghouse insurers participating in the 259
program reasonable transaction, technology, administration, and 260
other similar fees. All fees charged by the commercial lines 261
clearinghouse administrator must be fair and reasonable. 262
(f) Shall include separate components for authorized 263
insurers and approved surplus lines insurers with respect to the 264
commercial lines clearinghouse, each of which shall be 265
independently operated and independently funded. 266
(g) In the event that there is insufficient commercial 267
support for any component of the commercial lines clearinghouse, 268
shall be relieved of its obligations with respect to that 269
component for which there is insufficient commercial support. 270
(h) Shall provide or permit access to shared or hosted 271
technology, systems, interfaces, or applications programming 272
interfaces to the commercial lines clearinghouse administrator, 273
provided that each retains operational control over and 274
responsibility for its own technology, systems, interfaces, or 275
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
applications. Notwithstanding paragraph (e), the corporation may 276
not provide funds to support or offset the infrastructure or 277
operations of the commercial lines clearinghouse or any 278
component thereof, but shall fund and operate its own 279
technology, systems, interfaces, or applications as necessary 280
for the corporation to access and interface with the commercial 281
lines clearinghouse. 282
(i)(e) May develop an enhanced application that includes 283
information to assist private insurers in determining whether to 284
make an offer of coverage through the program. 285
(j)(f) For personal lines residential risks, may require 286
that, before approving all new applications for coverage by the 287
corporation, that every application be subject to a period of 2 288
business days when any insurer participating in the program may 289
select the application for coverage. For commercial lines 290
residential and commercial lines nonresidential risks, the 291
corporation may require, before approving all new applications 292
for commercial lines coverage by the corporation, that every 293
application be subject to a period of 5 business days when any 294
insurer participating in the program may select the application 295
for coverage. The insurer may issue a binder on any policy 296
selected for coverage for a period of at least 30 days but not 297
more than 60 days. 298
(k) Shall, in creating the commercial lines clearinghouse, 299
establish criteria to determine the capabilities necessary for 300
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
the commercial lines clearinghouse administrator. For 301
facilitating offers of surplus lines coverage, such criteria 302
must include confirmed expertise in the surplus lines market; at 303
least 5 years of publicly available audited financial 304
statements; the ability to facilitate all approved surplus lines 305
clearinghouse insurers to participate in the commercial lines 306
clearinghouse; other criteria that the corporation determines 307
necessary to effectively establish, administer, manage offers of 308
surplus lines coverage through the commercial lines 309
clearinghouse; and the ability to collect and remit, either 310
directly or through a surplus lines agent, all taxes pursuant to 311
s. 626.932 and service fees pursuant to s. 626.9325. 312
(l) Shall select a commercial lines clearinghouse 313
administrator within 90 days after the effective date of this 314
act. 315
(m) May allow the commercial lines clearinghouse 316
administrator to establish procedures and account clearance 317
requirements the commercial lines clearinghouse administrator 318
deems necessary to ensure an orderly process for offers of 319
coverage to be provided by authorized insurers or approved 320
surplus lines clearinghouse insurers participating in the 321
commercial lines clearinghouse and to avoid multiple offers of 322
coverage from the same insurer for the same risk. 323
(n) Must submit to the commercial lines clearinghouse 324
administrator its coverage terms and conditions, deductible 325
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
structures, and unalterable indicated total cost of insurance 326
coverage, which must include, but is not limited to, the 327
premium, fees, surcharges, and applicable taxes for the subject 328
risk before any approved surplus lines clearinghouse insurer is 329
provided a submission for coverage pursuant to the program by 330
any applicant for new coverage from the corporation or any 331
policyholder of the corporation. Upon completion of such 332
submission, the commercial lines clearinghouse administrator 333
shall provide the corporation's unalterable indicated coverage 334
terms and conditions and deductible structures, but may not 335
provide the indicated total cost of corporation insurance 336
coverage, to the approved surplus lines clearinghouse insurers 337
participating in the program. The commercial lines clearinghouse 338
administrator shall determine, through established procedures, 339
whether a submission is complete before release, which 340
submission requires, at a minimum, a validated application from 341
the agent and the corporation's unalterable indicated total cost 342
of insurance, coverage terms and conditions, and deductible 343
structures. The commercial lines clearinghouse administrator 344
shall then use the corporation's unalterable indication to 345
determine whether any offers of coverage from approved surplus 346
lines clearinghouse insurers satisfy the requirements set forth 347
in s. 627.351(6)(oo) and subparagraph (6)(c)2. The corporation 348
may not bind or otherwise communicate, indicate, or make an 349
offer of coverage to an applicant or policyholder, or its agent, 350
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
or otherwise accept coverage until the commercial lines 351
clearinghouse administrator has determined that a complete 352
submission has been made, affirmatively releases one or more 353
offers of coverage from approved surplus lines clearinghouse 354
insurers, or affirms that no clearinghouse insurer offer of 355
coverage has been made, and at least 5 business days have 356
elapsed from the date of such release, unless waived in writing. 357
Any change to the corporation's coverage terms and conditions, 358
deductible structures, or indicated total cost of insurance 359
coverage constitutes a new submission by the corporation under 360
this paragraph. The validation period described in this 361
paragraph applies regardless of any proposed effective date, 362
renewal date, or expiration date of the policy and may not be 363
shortened or bypassed based on timing considerations relating to 364
binding or renewal. 365
(4) The corporation may share risk exposure and policy 366
information with the commercial lines clearinghouse 367
administrator, and, through the commercial lines clearinghouse, 368
the commercial lines clearinghouse administrator may use such 369
information as necessary to operate and administer the 370
commercial lines clearinghouse and ensure the orderly, timely, 371
and transparent assessment of risks by insurers participating in 372
the commercial lines clearinghouse. 373
(5) Any authorized insurer may participate in the program; 374
however, participation is not mandatory for any insurer. 375
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
Approved surplus lines clearinghouse insurers may participate in 376
the commercial lines clearinghouse but may not participate in 377
the personal lines clearinghouse; however, participation in the 378
program is not mandatory for any surplus lines insurer. Insurers 379
making offers of coverage to new applicants or renewal 380
policyholders through the program: 381
(a) May not be required to individually appoint any agent 382
whose customer is underwritten and bound through the program. 383
Notwithstanding s. 626.112, insurers are not required to appoint 384
any agent on a policy underwritten through the program for as 385
long as that policy remains with the insurer. Insurers may, at 386
their election, appoint any agent or surplus lines agent whose 387
direct or indirect customer is initially underwritten and bound 388
through the program. In the event an insurer accepts a policy 389
from an agent who is not appointed pursuant to this paragraph, 390
and thereafter elects to accept a policy from such agent, the 391
provisions of s. 626.112 requiring appointment apply to the 392
agent. 393
(b) Must enter into a limited agency agreement with each 394
agent or surplus lines agent that is not appointed in accordance 395
with paragraph (a) and whose direct or indirect customer is 396
underwritten and bound through the program. In addition, a 397
surplus lines agent that enters into a limited agency or broker 398
agreement with an approved surplus lines clearinghouse insurer 399
making an offer of coverage through the program must also enter 400
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into a limited agency or broker agreement with each producing 401
agent whose customer is underwritten and bound through the 402
program. 403
(c) Must enter into its standard agency agreement with 404
each agent or surplus lines agent whose direct or indirect 405
customer is underwritten and bound through the program when that 406
agent or surplus lines agent has been appointed by the insurer 407
pursuant to s. 626.112. In addition, a surplus lines agent that 408
enters into a standard agency or broker agreement with an 409
approved surplus lines clearinghouse insurer making an offer of 410
coverage through the program must also enter into a limited 411
agency or broker agreement with each producing agent whose 412
customer is underwritten and bound through the program. 413
(d) Must comply with s. 627.4133(2) or, if the insurer is 414
an approved surplus lines clearinghouse insurer, s. 626.9201. 415
(e) May participate through their designated single-416
designated managing general agent, managing general underwriter, 417
or broker, or surplus lines agent; however, the provisions of 418
paragraph (7)(a) (6)(a) regarding ownership, control, and use of 419
the expirations continue to apply. 420
(f) For authorized insurers, must pay to the producing 421
agent a commission equal to that paid by the corporation or the 422
usual and customary commission paid by the insurer for that line 423
of business, whichever is greater. 424
(g) For approved surplus lines clearinghouse insurers, 425
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when coverage is placed through the clearinghouse with an 426
approved surplus lines clearinghouse insurer, must pay a total 427
commission or equivalent compensation on gross written premium, 428
exclusive of fees, surcharges, and taxes, to the surplus lines 429
agent, managing general agent, or managing general underwriter 430
placing the risk. The surplus lines agent, managing general 431
agent, or managing general underwriter must pay the producing 432
agent a commission that results in an effective commission 433
percentage at least equal to the commission percentage published 434
by the corporation and in effect on January 1, 2026, calculated 435
in the same manner and on the same basis used by the 436
corporation, and shall retain the remainder of the total 437
commission or equivalent compensation. This paragraph does not 438
prohibit an agent from voluntarily accepting a lower commission 439
at the agent's sole discretion. As used in this paragraph, the 440
term "effective commission percentage" means the commission 441
expressed as a percentage of premium, exclusive of all fees, 442
assessments, surcharges, and taxes. 443
(6)(a)(5) Notwithstanding s. 627.3517, any applicant for 444
new personal lines coverage from the corporation is not eligible 445
for coverage from the corporation if provided an offer of 446
comparable coverage from an authorized insurer through the 447
program at a premium that is at or below the eligibility 448
threshold for applicants for new coverage of a primary residence 449
established in s. 627.351(6)(c)5.a., or for applicants for new 450
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
coverage of a risk that is not a primary residence established 451
in s. 627.351(6)(c)5.b. Whenever an offer of comparable coverage 452
for a personal lines risk is received for a policyholder of the 453
corporation at renewal from an authorized insurer through the 454
program which is at or below the eligibility threshold for 455
primary residences of policyholders of the corporation 456
established in s. 627.351(6)(c)5.a., or the eligibility 457
threshold for risks that are not primary residences of 458
policyholders of the corporation established in s. 459
627.351(6)(c)5.b., the risk is not eligible for coverage with 460
the corporation. In the event an offer of coverage for a new 461
applicant is received from an authorized insurer through the 462
program, and the premium offered exceeds the eligibility 463
threshold for applicants for new coverage of a primary residence 464
established in s. 627.351(6)(c)5.a., or the eligibility 465
threshold for applicants for new coverage on a risk that is not 466
a primary residence established in s. 627.351(6)(c)5.b., the 467
applicant or insured may elect to accept such coverage, or may 468
elect to accept or continue coverage with the corporation. In 469
the event an offer of coverage for a personal lines risk is 470
received from an authorized insurer at renewal through the 471
program, and the premium offered exceeds the eligibility 472
threshold for primary residences of policyholders of the 473
corporation established in s. 627.351(6)(c)5.a., or exceeds the 474
eligibility threshold for risks that are not primary residences 475
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
of policyholders of the corporation established in s. 476
627.351(6)(c)5.b., the insured may elect to accept such 477
coverage, or may elect to accept or continue coverage with the 478
corporation. Section 627.351(6)(c)5.a.(I) and b.(I) does not 479
apply to an offer of coverage from an authorized insurer 480
obtained through the program. As used in this subsection, the 481
term "primary residence" has the same meaning as in s. 482
627.351(6)(c)2.a. 483
(b) Any applicant for new commercial lines residential 484
coverage from the corporation is not eligible for coverage from 485
the corporation if provided an offer of comparable coverage from 486
the corporation as to all aspects of such coverage from an 487
authorized insurer through the program at a premium that is at 488
or below the eligibility threshold for applicants for new 489
coverage established in s. 627.351(6)(c)5.c. The determination 490
of whether an offer of comparable coverage from an authorized 491
insurer through the program is at or below the eligibility 492
threshold must be made before the submission of the 493
corporation's coverage terms and conditions, deductible 494
structures, and unalterable indicated total cost of insurance is 495
provided to the commercial lines clearinghouse administrator. 496
Whenever an offer of comparable coverage from the corporation as 497
to all aspects of such coverage for a commercial lines 498
residential risk is received for a policyholder of the 499
corporation at renewal from an authorized insurer through the 500
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program which is at or below the eligibility threshold in s. 501
627.351(6)(c)5.c., the risk is not eligible for coverage from 502
the corporation. In the event that an offer of coverage for a 503
new applicant is received from an authorized insurer through the 504
program, and the premium offered exceeds the eligibility 505
threshold established in s. 627.351(6)(c)5.c., the applicant or 506
insured may elect to accept such coverage or may elect to accept 507
or continue coverage with the corporation. In the event that an 508
offer of coverage for a commercial lines residential risk is 509
received from an authorized insurer at renewal through the 510
program, and the premium offered exceeds the eligibility 511
threshold for policyholders of the corporation established in s. 512
627.351(6)(c)5.c., the insured may elect to accept such coverage 513
or may elect to accept or continue coverage with the 514
corporation. Section 627.351(6)(c)5.c.(I) does not apply to an 515
offer of coverage from an authorized insurer obtained through 516
the program. 517
(c)1. Except as provided in subparagraph 2., any applicant 518
for new commercial lines residential coverage or commercial 519
lines nonresidential coverage from the corporation and any 520
policyholder of the corporation, when such applicant or 521
corporation policyholder is offered commercial lines residential 522
or commercial lines nonresidential coverage pursuant to the 523
program by an approved surplus lines clearinghouse insurer, 524
remains eligible for coverage from the corporation. The 525
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applicant or policyholder receiving an offer from an approved 526
surplus lines clearinghouse insurer may elect to accept such 527
coverage or may elect to accept or continue coverage with the 528
corporation. 529
2. Any applicant for new commercial lines residential 530
coverage or commercial lines nonresidential coverage from the 531
corporation and any policyholder of the corporation, when such 532
applicant or corporation policyholder is offered commercial 533
lines residential or commercial lines nonresidential coverage by 534
an approved surplus lines insurer pursuant to the program and 535
such offered coverage is comparable coverage, and the total cost 536
of such insurance coverage is not more than 20 percent greater 537
than the total cost of insurance coverage from the corporation, 538
may elect to accept such coverage from the approved surplus 539
lines clearinghouse insurer or may elect to accept or continue 540
coverage with the corporation, but, if electing corporation 541
coverage, such applicant or policyholder must pay the total cost 542
of insurance for corporation coverage that is subject to s. 543
627.351(6)(oo). 544
3. Section 627.351(6)(c)5.c.(I) does not apply to an offer 545
of coverage from an approved surplus lines clearinghouse insurer 546
obtained through the program. 547
(7)(6) Independent insurance agents submitting new 548
applications for coverage or that are the agent of record on a 549
renewal policy submitted to the program: 550
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(a) Are granted and must maintain ownership and the 551
exclusive use of expirations, records, or other written or 552
electronic information directly related to such applications or 553
renewals written through the corporation or through an insurer 554
participating in the program, notwithstanding s. 627.351(5)(a), 555
s. 627.351(6)(c)5.a.(I)(B) and (II)(B), or s. 556
627.351(6)(c)5.b.(I)(B) and (II)(B). Such ownership is granted 557
for as long as the insured remains with the agency or until sold 558
or surrendered in writing by the agent. Contracts with the 559
corporation or required by the corporation or with any insurer 560
or surplus lines agent may must not amend, modify, interfere 561
with, or limit such rights of ownership. Such expirations, 562
records, or other written or electronic information may be used 563
to review an application, issue a policy, or for any other 564
purpose necessary for placing such business through the program. 565
(b) May not be required to be appointed by any insurer 566
participating in the program for policies written solely through 567
the program, notwithstanding the provisions of s. 626.112. 568
(c) May accept an appointment from any insurer 569
participating in the program. 570
(d) May enter into either a standard or limited agency 571
agreement with the insurer, at the insurer's option, and may 572
enter into agreements with a surplus lines agent. 573
574
Applicants ineligible for coverage in accordance with subsection 575
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(6) (5) remain ineligible if their independent agent is 576
unwilling or unable to enter into a standard or limited agency 577
agreement with an insurer participating in the program. 578
(8)(7) Exclusive agents submitting new applications for 579
coverage or that are the agent of record on a renewal policy 580
submitted to the program: 581
(a) Must maintain ownership and the exclusive use of 582
expirations, records, or other written or electronic information 583
directly related to such applications or renewals written 584
through the corporation or through an insurer participating in 585
the program, notwithstanding s. 627.351(6)(c)5.a.(I)(B) and 586
(II)(B) or s. 627.351(6)(c)5.b.(I)(B) and (II)(B). Contracts 587
with the corporation or required by the corporation must not 588
amend, modify, interfere with, or limit such rights of 589
ownership. Such expirations, records, or other written or 590
electronic information may be used to review an application, 591
issue a policy, or for any other purpose necessary for placing 592
such business through the program. 593
(b) May not be required to be appointed by any insurer 594
participating in the program for policies written solely through 595
the program, notwithstanding the provisions of s. 626.112. 596
(c) Must only facilitate the placement of an offer of 597
coverage from an insurer whose limited servicing agreement is 598
approved by that exclusive agent's exclusive insurer. 599
(d) May enter into a limited servicing agreement with the 600
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insurer making an offer of coverage, and only after the 601
exclusive agent's insurer has approved the limited servicing 602
agreement terms. The exclusive agent's insurer must approve a 603
limited service agreement for the program for any insurer for 604
which it has approved a service agreement for other purposes. 605
606
Applicants ineligible for coverage in accordance with subsection 607
(6) (5) remain ineligible if their exclusive agent is unwilling 608
or unable to enter into a standard or limited agency agreement 609
with an insurer making an offer of coverage to that applicant. 610
(9)(8) Submission of an application for coverage by the 611
corporation to the program does not constitute the binding of 612
coverage by the corporation, and failure of the program to 613
obtain an offer of coverage by an insurer may not be considered 614
acceptance of coverage of the risk by the corporation. 615
(10)(9) The 45-day notice of nonrenewal requirement set 616
forth in s. 627.4133(2)(b)5. applies when a policy is nonrenewed 617
by the corporation because the risk has received an offer of 618
coverage pursuant to this section which renders the risk 619
ineligible for coverage by the corporation. 620
(10) The program may not include commercial nonresidential 621
policies. 622
(11) Proprietary business information provided to the 623
corporation's clearinghouse by insurers with respect to 624
identifying and selecting risks for an offer of coverage is 625
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confidential and exempt from s. 119.07(1) and s. 24(a), Art. I 626
of the State Constitution. 627
(a) As used in this subsection, the term "proprietary 628
business information" means information, regardless of form or 629
characteristics, which is owned or controlled by an insurer and: 630
1. Is identified by the insurer as proprietary business 631
information and is intended to be and is treated by the insurer 632
as private in that the disclosure of the information would cause 633
harm to the insurer, an individual, or the company's business 634
operations and has not been disclosed unless disclosed pursuant 635
to a statutory requirement, an order of a court or 636
administrative body, or a private agreement that provides that 637
the information will not be released to the public; 638
2. Is not otherwise readily ascertainable or publicly 639
available by proper means by other persons from another source 640
in the same configuration as provided to the clearinghouse; and 641
3. Includes: 642
a. Trade secrets, as defined in s. 688.002. 643
b. Information relating to competitive interests, the 644
disclosure of which would impair the competitive business of the 645
provider of the information. 646
647
Proprietary business information may be found in underwriting 648
criteria or instructions which are used to identify and select 649
risks through the program for an offer of coverage and are 650
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shared with the clearinghouse to facilitate the shopping of 651
risks with the insurer. 652
(b) The clearinghouse may disclose confidential and exempt 653
proprietary business information: 654
1. If the insurer to which it pertains gives prior written 655
consent; 656
2. Pursuant to a court order; or 657
3. To another state agency in this or another state or to 658
a federal agency if the recipient agrees in writing to maintain 659
the confidential and exempt status of the document, material, or 660
other information and has verified in writing its legal 661
authority to maintain such confidentiality. 662
(12) To promote actuarial soundness, program integrity, 663
and mitigation of solvency or assessment risk to the 664
corporation, the office may review operational processes related 665
to the program. Such review may include, but is not limited to, 666
all of the following: 667
(a) Comparable coverage determinations upon complaint to 668
the office by or on behalf of a policy applicant. 669
(b) Verification of the financial strength of approved 670
surplus lines clearinghouse insurers participating in the 671
program. 672
(c) The reasonableness of fees charged by the commercial 673
lines clearinghouse administrator. 674
(d) The operational processes used by the commercial lines 675
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clearinghouse administrator to determine whether an offer of 676
coverage from an insurer participating in the program precludes 677
coverage from the corporation or requires an equalization 678
adjustment by the corporation. 679
(e) The potential for material adverse impact to the 680
corporation's surplus, solvency, or assessment exposure. 681
(13)(a) If, after a review under subsection (12), the 682
office determines that program processes are creating a material 683
risk to the solvency of the corporation, the office shall notify 684
the corporation and submit written recommendations to the 685
commission. 686
(b) Upon approval by the commission, the corporation may 687
temporarily implement recommendations made by the office to 688
address the solvency risk. Such recommendations may include, but 689
are not limited to, all of the following: 690
1. Temporary suspension of the equalization adjustment 691
authorized under s. 627.351(6)(oo). 692
2. Temporary exclusion of one or more participating 693
insurers from the program. 694
3. Temporary modification of program procedural timelines. 695
4. If exigent circumstances exist, temporary suspension of 696
the requirement that any applicant for new commercial 697
residential coverage or commercial nonresidential coverage from 698
the corporation and any policyholder of the corporation submit 699
applications for coverage through the commercial lines 700
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clearinghouse. 701
(14) This section does not authorize rebates or any 702
activity that would violate part IX of chapter 626. The 703
corporation and the commercial lines clearinghouse administrator 704
shall implement procedures to ensure that participating agents 705
and insurers are not induced to violate part IX of chapter 626. 706
The office may review such compliance procedures solely for the 707
purpose of submitting recommendations to the commission under 708
subsection (13). 709
Section 3. This act shall take effect upon becoming a law. 710