October 19, 2020
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Amendment CaShTmL-125598.HTM
                                                  SENATE AMENDMENT
    Bill No. CS for CS for SB 2270
    Amendment No. ___   Barcode 125598
                            CHAMBER ACTION
              Senate                               House
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       04/23/2004 03:45 PM         .                    
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 4  ______________________________________________________________
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11  Senator Atwater moved the following amendment:
12  
13         Senate Amendment 
14         On page 23, line 14, through
15            page 24, line 27, delete those lines
16  
17  and insert:  
18         (1)  The Legislature intends to create a state workers'
19  compensation mutual fund if workers' compensation coverage is
20  not generally available and affordable to small employers and
21  organizations that are exempt from federal income tax under s.
22  501(c)(3) of the Internal Revenue Code in Florida by October
23  1, 2005. In order to make this determination, there is
24  established the Workers' Compensation Insurance Market
25  Evaluation Committee which shall consist of one member
26  appointed by the Governor, who shall serve as chair; two
27  members appointed by the President of the Senate; and two
28  members appointed by the Speaker of the House of
29  Representatives. The committee shall monitor and report on the
30  number of insurers actively writing workers' compensation
31  insurance in this state for small employers and organizations
                                  1
    7:02 PM   04/22/04                              s2270c2b-25t25

SENATE AMENDMENT Bill No. CS for CS for SB 2270 Amendment No. ___ Barcode 125598 1 that are exempt from federal income tax under s. 501(c)(3) of 2 the Internal Revenue Code, the number of policies issued, 3 premium volume written, types of underwriting restrictions 4 utilized, and the extent to which actual premiums charged vary 5 from standard rates, such as the use of excess rates pursuant 6 to section 627.171, Florida Statutes, and rate deviations 7 pursuant to section 627.211, Florida Statutes. The Office of 8 Insurance Regulation shall provide such related information to 9 the committee as is requested, and workers' compensation 10 insurers shall report such information to the office in the 11 manner and format specified by the office. 12 (2) The committee shall meet once each month, 13 beginning in August 2004, and shall provide interim reports to 14 the appointing officers on October 1, 2004, December 1, 2004, 15 and March 1, 2005, and at such additional times as the 16 President of the Senate and the Speaker of the House of 17 Representatives jointly require. Members of the committee 18 shall be entitled to reimbursement for travel and per diem 19 pursuant to section 112.061, Florida Statutes. 20 (3) If the Legislature determines that workers' 21 compensation coverage is not generally available and 22 affordable to small employers and organizations that are 23 exempt from federal income tax under s. 501(c)(3) of the 24 Internal Revenue Code in Florida, the Legislature intends to 25 create a state mutual fund as a nonprofit entity for the 26 benefit of its policyholders that are a small employer or an 27 organization that is exempt from the federal income tax under 28 s. 501(c)(3) of the Internal Revenue Code. The state mutual 29 fund would compete with private carriers and would be charged 30 with the public mission of customer service, quality loss 31 prevention, timely claims management, active fighting of 2 7:02 PM 04/22/04 s2270c2b-25t25
SENATE AMENDMENT Bill No. CS for CS for SB 2270 Amendment No. ___ Barcode 125598 1 fraud, and compassionate care for injured workers, at the 2 lowest cost consistent with actuarial sound rates. The fund 3 should primarily rely on an in-house staff of professional 4 employees, rather than contracting with servicing carriers. It 5 is further intended that the state appropriate adequate 6 initial capitalization for the fund and that the fund be 7 subject to the same financial and other requirements as apply 8 to an authorized insurer. 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 3 7:02 PM 04/22/04 s2270c2b-25t25
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