House Bill 1141 amends various sections of Florida Statutes to enhance the regulatory framework for insurance and continuing care providers in the state. Key provisions include designating the Chief Financial Officer (CFO) as the agent for service of process for health maintenance organizations and insurers withdrawing from operations, along with the establishment of new reporting requirements for insurers, such as rate transparency reports and cybersecurity rules. The bill also removes certain outdated provisions, including the requirement for triplicate filings of articles of incorporation for domestic insurers and the tiered assessment structure for reinsuring carriers. Additionally, it introduces new definitions and obligations for reciprocal insurers, including increased minimum surplus requirements and the establishment of subscriber savings accounts.

The legislation further strengthens oversight of continuing care retirement communities by enhancing the rights of residents, mandating quarterly meetings, and prioritizing contracts in the event of a provider's liquidation. It also imposes stricter criteria for management companies, requiring comprehensive documentation for obtaining a certificate of authority and establishing grounds for denial or revocation based on financial practices. Overall, HB 1141 aims to improve consumer protection, transparency, and accountability within the insurance and continuing care sectors in Florida, with certain provisions set to take effect on July 1, 2025.

Statutes affected:
H 1141 Filed: 48.151, 252.63, 624.4085, 624.45, 626.9651, 627.062, 627.0645, 627.0651, 627.4554, 627.7152, 628.081, 628.4615, 628.717, 628.719, 628.910, 629.011, 629.071, 629.081, 629.121, 629.171, 629.181, 629.201, 629.301, 634.401, 651.018, 651.019, 651.034, 651.043, 651.055, 651.071, 651.1065, 651.108, 651.114, 627.642, 627.657, 627.66997