Senate 1884: Relating to Insurance |
Bill
No. Proposed Committee Substitute by the Committee on Banking and Insurance
1 A bill to be entitled 2 An act relating to insurance regulation; 3 amending s. 627.0613, F.S.; clarifying and 4 revising the authority of the consumer advocate 5 within the Office of Insurance Regulation of 6 the Department of Financial Services; requiring 7 that the consumer advocate have access to 8 certain hurricane loss-projection models; 9 requiring the office to address recommendations 10 submitted by the consumer advocate with respect 11 to rate filings; requiring the consumer 12 advocate to conduct certain investigations; 13 authorizing the consumer advocate to subpoena 14 witnesses and records; requiring the consumer 15 advocate to seek review of certain agency 16 action under ch. 120, F.S.; requiring the 17 consumer advocate to research and analyze 18 insurance issues and disseminate information; 19 providing an effective date. 20 21 Be It Enacted by the Legislature of the State of Florida: 22 23 Section 1. Section 627.0613, Florida Statutes, as 24 amended by section 17 of chapter 2007-1, Laws of Florida, is 25 amended to read: 26 627.0613 Consumer advocate.--The Chief Financial 27 Officer must appoint a consumer advocate who must represent 28 the general public of the state before the department and the 29 office. The consumer advocate must report directly to the 30 Chief Financial Officer, but is not otherwise under the 31 authority of the department or of any employee of the Page 1 1 department. The consumer advocate has such powers as are 2 necessary to carry out the duties of the office of consumer 3 advocate, including, but not limited to, the powers to: 4 (1) Recommend to the department or office, by 5 petition, the commencement of any proceeding or action; appear 6 in any proceeding or action before the department or office 7 and in appellate actions regarding those proceedings; and 8
intervene as a party 9 Division of Administrative Hearings or arbitration panel 10 specified in s. 627.062(6) relating to subject matter under 11 the jurisdiction of the department or office. 12 (2) Have access to and use of all files, records, and 13 data of the department or office, including any public model 14 for hurricane loss projections developed pursuant to s. 15 627.06281. 16 (3) Examine rate and form filings submitted to the 17 office, hire consultants as necessary to aid in the review 18 process, and recommend to the department or office any 19 position deemed by the consumer advocate to be in the public 20 interest. In approving a rate or form filing, the office shall 21 specifically address each recommendation submitted by the 22 consumer advocate. 23 (4) Prepare an annual report card for each authorized 24 property insurer, on a form and using a letter-grade scale 25 developed by the commission by rule, which grades each insurer 26 based on the following factors: 27 (a) The number and nature of consumer complaints 28 received by the department against the insurer. 29 (b) The disposition of all complaints received by the 30 department. 31 (c) The average length of time for payment of claims Page 2 1 by the insurer. 2 (d) Any other factors the commission identifies as 3 assisting policyholders in making informed choices about 4 homeowner's insurance. 5 (5) Prepare an annual budget for presentation to the 6 Legislature by the department, which budget must be adequate 7 to carry out the duties of the office of consumer advocate. 8 (6) Conduct investigations of insurance schemes, 9 patterns or practices relating to unfair trade practices, 10 unfair claims-handling practices, deceptive or misleading 11 sales practices, or coercion or intimidation of insurance 12 consumers. In carrying out investigations, the consumer 13 advocate shall have the powers set forth in s. 624.321. If the 14 consumer advocate believes further regulatory action should be 15 taken, he or she shall refer the investigation to the office 16 or department. If the office or department determines that no 17 regulatory action is warranted, the office or department shall 18 inform the consumer advocate, in writing, of the basis for its 19 decision. An insurer that fails to comply with a subpoena is 20 subject to disciplinary action under s. 624.418(2) in the same 21 manner as if it had violated an order of the office or 22 department or failed to submit its books and records for 23 examination. 24 (7) Seek review, pursuant to chapter 120, of any 25 proposed agency action and any determination, finding, or 26 order of the office, department, or commission in any 27 proceeding in which the consumer advocate has participated as 28 a party. 29 (8) Research and analyze insurance issues from the 30 perspective of consumers and prepare and disseminate such 31 information as the consumer advocate considers appropriate to Page 3 1 inform or assist consumers, the department, the office, and 2 the commission. 3 Section 2. This act shall take effect upon becoming a 4 law. 5 CODING:
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