On a vote of 116-0 the Florida House of Representatives passed HB 853 this morning. The bill would clarify the surplus lines regulatory status in Florida put into question following the Florida Supreme Court's 2008 decision in Essex v. Zota.
A similar Senate bill (SB 1894) may be reviewed today by the Florida Senate.
Tuesday, April 28, 2009
Monday, April 27, 2009
Pennsylvania Considers Expanding Export List
The Insurance Commissioner of Pennsylvania is soliciting comments regarding expanding the export list. The Commissioner proposes to amend the May 24, 2008, list to add the following:
• Animal rides
• Crane and rigging contractors (liability and physical damage only)
• Crop dusters (aircraft liability and aircraft hull coverage only)
• Fuel and explosive haulers (excess auto liability and auto physical damage only)
• Hazardous waste haulers (excess auto liability and auto physical damage only)
• Hazardous waste storage and disposal (liability only)
• Products liability (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
• Products recall (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
Persons wishing to comment on the Commissioner's proposal may submit a written statement by May 3, 2009. Each written statement must include sufficient detail and relevant facts to inform the Insurance Department of the exact basis of the statement.
Written statements should be directed to Cressinda Bybee, Office of Corporate and Financial Regulation, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@state.pa.us.
Formal notification of any changes will be published in the Pennsylvania Bulletin after the 15-day comment period ends on May 1, or a notice will be published stating that the May 24, 2008, list remains in effect.
• Animal rides
• Crane and rigging contractors (liability and physical damage only)
• Crop dusters (aircraft liability and aircraft hull coverage only)
• Fuel and explosive haulers (excess auto liability and auto physical damage only)
• Hazardous waste haulers (excess auto liability and auto physical damage only)
• Hazardous waste storage and disposal (liability only)
• Products liability (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
• Products recall (monoline) for the manufacturing of: Pharmaceuticals, Aircraft and component parts, Automotive and component parts, Farm and industrial equipment, Petrochemicals, Firearms, Medical equipment
Persons wishing to comment on the Commissioner's proposal may submit a written statement by May 3, 2009. Each written statement must include sufficient detail and relevant facts to inform the Insurance Department of the exact basis of the statement.
Written statements should be directed to Cressinda Bybee, Office of Corporate and Financial Regulation, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@state.pa.us.
Formal notification of any changes will be published in the Pennsylvania Bulletin after the 15-day comment period ends on May 1, or a notice will be published stating that the May 24, 2008, list remains in effect.
Wednesday, April 22, 2009
Zota Fix Moves Forward in Florida
Legislation to clarify the surplus lines regulatory status in Florida appears headed toward a full vote in the Florida House this week and the Florida Senate next week.
House and Senate committees acted favorably on bills that would restore the industry's exemption from state regulation of its forms and policies that was put in questions following the 2008 Florida Supreme Court's decision in Essex v. Zota.
The House bill (HB 853) and Senate bill (SB 1894) are now expected to be voted on by next week. While the bills would restore the industry's regulatory exemption retroactive to Oct. 1, 1988 some new requirements would be imposed, according to the Insurance Journal.
House and Senate committees acted favorably on bills that would restore the industry's exemption from state regulation of its forms and policies that was put in questions following the 2008 Florida Supreme Court's decision in Essex v. Zota.
The House bill (HB 853) and Senate bill (SB 1894) are now expected to be voted on by next week. While the bills would restore the industry's regulatory exemption retroactive to Oct. 1, 1988 some new requirements would be imposed, according to the Insurance Journal.
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