The bill amends various sections of Florida Statutes concerning insurance regulations, with a primary focus on enhancing the roles of the Chief Financial Officer and the Office of Insurance Regulation. It designates the Chief Financial Officer as the agent for service of process for health maintenance organizations and introduces new requirements for fingerprinting and background checks for individuals involved in the insurance industry. The bill also revises the publication requirements for emergency orders, mandating that the Commissioner of Insurance Regulation publish notices in the Florida Administrative Register, including hyperlinks to the orders, rather than providing the full text. Additionally, it establishes a center on the Office of Insurance Regulation's website for public access to transparency reports and other relevant information.

Further amendments include changes to the definitions and requirements for various types of insurers, adjustments to rate filing processes, and new regulations for management companies in the continuing care sector. The bill emphasizes consumer protection by requiring insurance agents to disclose their relationships with consumers and the features of annuities sold. It also introduces new eligibility requirements for continuing care providers, mandates timely financial reporting, and enhances the regulatory framework for management companies, including penalties for noncompliance. Overall, the bill aims to improve regulatory oversight, enhance transparency, and protect consumer interests within Florida's insurance sector.

Statutes affected:
S 1656 Filed: 48.151, 252.63, 624.4085, 624.45, 626.9651, 627.062, 627.0621, 627.0645, 627.0651, 627.4554, 627.642, 627.657, 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, 629.271, 629.301, 629.401, 629.520, 634.401, 651.018, 651.019, 651.034, 651.043, 651.071, 651.1065, 651.108, 651.114
S 1656 c1: 48.151, 252.63, 624.4085, 624.424, 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, 629.271, 629.301, 629.401, 629.520, 634.401, 651.018, 651.019, 651.034, 651.043, 651.071, 651.1065, 651.108, 651.114, 624.307, 627.642, 627.657, 627.66997