(1) The office shall adopt a market assistance plan to assist in the placement of risks of applicants who are unable to procure property insurance as defined in s. 624.604 or casualty insurance as defined in s. 624.605(1)(b), (e), (f), (g), or (h) from authorized insurers when such insurance is otherwise generally available from insurers authorized to transact and actually writing that kind and class of insurance in this state. Through such measures as are found appropriate by the board of governors, the market assistance plan shall take affirmative steps to assist in the removal from the Citizens Property Insurance Corporation any risk that can be placed in the voluntary market. All property and casualty insurers licensed in this state shall participate in the plan.
(2)(a) Each person serving as a member of the board of governors of the Citizens Property Insurance Corporation shall also serve as a member of the board of governors of the market assistance plan.
(b) The plan shall be funded through payments from the Citizens Property Insurance Corporation and annual assessments of residential property insurers in the amount of $450.
(c) The plan is not required to assist in the placement of any workers’ compensation, employer’s liability, malpractice, or motor vehicle insurance coverage.
(3)(a) The plan and the corporation shall develop a business plan and present it to the Financial Services Commission for approval by September 1, 2007, to provide for the implementation of an electronic database for the purpose of confirming eligibility pursuant to s. 627.351(6). The business plan may provide that authorized insurers or agents of authorized insurers may submit to the plan or the corporation in electronic form, as determined by the plan or the corporation, information determined necessary by the plan or the corporation to deny coverage to risks ineligible for coverage by the corporation. Any authorized insurer submitting such information that results in a risk being denied coverage by the corporation is required to offer coverage to the risk at its approved rates, for the coverage and premium quoted, for at least 1 year.
(b) There shall be no liability on the part of, and no cause of action of any nature shall arise against, any authorized insurer acting within the scope of its authority under this subsection or its agents or employees for any action taken by them in the performance of their duties or responsibilities under this subsection.
History.—s. 1, ch. 85-92; s. 43, ch. 86-160; s. 1, ch. 86-286; s. 6, ch. 88-390; ss. 26, 114, ch. 92-318; s. 12, ch. 95-276; s. 3, ch. 96-377; s. 1105, ch. 2003-261; s. 23, ch. 2007-1; s. 13, ch. 2007-90.
Structure Florida Statutes
Chapter 627 - Insurance Rates and Contracts
Part I - Rates and Rating Organizations (Ss. 627.011-627.381)
627.031 - Purposes of this part; interpretation.
627.0612 - Administrative proceedings in rating determinations.
627.0621 - Transparency in rate regulation.
627.0625 - Commercial property and casualty risk management plans.
627.06281 - Public hurricane loss projection model; reporting of data by insurers.
627.0629 - Residential property insurance; rate filings.
627.06291 - Excess profits of residential property insurer; return.
627.06292 - Reports of hurricane loss data and associated exposure data; public records exemption.
627.06501 - Insurance discounts for certain persons completing driver improvement course.
627.0651 - Making and use of rates for motor vehicle insurance.
627.0652 - Insurance discounts for certain persons completing safety course.
627.0653 - Insurance discounts for specified motor vehicle equipment.
627.06535 - Electric vehicles; restrictions on imposing surcharges.
627.0654 - Insurance discounts for buildings with fire sprinklers.
627.0655 - Policyholder loss or expense-related premium discounts.
627.066 - Excessive profits for motor vehicle insurance prohibited.
627.0665 - Automatic bank withdrawal agreements; notification required.
627.072 - Making and use of rates.
627.091 - Rate filings; workers’ compensation and employer’s liability insurances.
627.0915 - Rate filings; workers’ compensation, drug-free workplace, and safe employers.
627.0916 - Agricultural horse farms.
627.092 - Workers’ Compensation Administrator.
627.093 - Application of s. 286.011 to workers’ compensation and employer’s liability insurances.
627.096 - Workers’ Compensation Rating Bureau.
627.101 - When filing becomes effective; workers’ compensation and employer’s liability insurances.
627.111 - Effective date of filing.
627.1615 - Workers’ compensation applicant discrimination.
627.191 - Adherence to filings; workers’ compensation and employer’s liability insurances.
627.192 - Workers’ compensation insurance; employee leasing arrangements.
627.211 - Deviations; workers’ compensation and employer’s liability insurances.
627.212 - Workplace safety program surcharge.
627.215 - Excessive profits for commercial property and commercial casualty insurance prohibited.
627.221 - Rating organizations; licensing; fee.
627.231 - Subscribers to rating organizations.
627.251 - Bureau rules not to affect dividends.
627.261 - Actuarial and technical services.
627.285 - Independent actuarial peer review of workers’ compensation rating organization.
627.301 - Advisory organizations.
627.311 - Joint underwriters and joint reinsurers; public records and public meetings exemptions.
627.312 - Transitional provisions.
627.3121 - Public records and public meetings exemptions.
627.313 - Workers’ Compensation Joint Underwriting Plan; audit requirements.
627.314 - Concerted action by two or more insurers.
627.331 - Recording and reporting of loss, expense, and claims experience; rating information.
627.351 - Insurance risk apportionment plans.
627.3511 - Depopulation of Citizens Property Insurance Corporation.
627.3512 - Recoupment of residual market deficit assessments.
627.3513 - Standards for sale of bonds by Citizens Property Insurance Corporation.
627.3515 - Market assistance plan; property and casualty risks.
627.3518 - Citizens Property Insurance Corporation policyholder eligibility clearinghouse program.
627.352 - Security of data and information technology in Citizens Property Insurance Corporation.
627.357 - Medical malpractice self-insurance.