The bill CS/HB 1549 amends several sections of Florida Statutes related to insurance and financial institutions, focusing on definitions, eligibility criteria, and operational procedures. It clarifies the definition of "control person" in section 560.103, specifying that such a person must have the power to vote or sell 25 percent or more of a class of voting securities. The bill also deletes the definition of "diligent effort" from section 626.914 and modifies the conditions for exporting insurance coverage in section 626.916, removing the requirement for a diligent effort to seek coverage from authorized insurers. Additionally, it introduces new language regarding the insured's acknowledgment of the availability of other coverage.

Moreover, the bill establishes new regulations for state financial institutions, including a semiannual assessment based on total assets, with specific deadlines for payment. It prohibits insurers from issuing nonrenewal notices or requiring consent to rate endorsements for similar coverage at higher premiums without proper notice. Insurers are also restricted from unfairly discriminating against individuals based on age, sex, marital status, or academic achievement when determining motor vehicle insurance premiums. The act is set to take effect on July 1, 2025, with certain provisions becoming effective immediately upon enactment.

Statutes affected:
H 1549 Filed: 655.047, 655.414, 657.002, 658.235, 658.25
H 1549 c1: 655.047, 655.414, 657.002, 657.028, 658.235, 658.25
H 1549 e1: 560.103, 626.914, 626.918, 626.932, 626.9325, 626.9541, 627.715, 655.047, 655.414, 657.002, 657.028, 658.235, 658.25
H 1549 er: 560.103, 626.914, 626.918, 626.932, 626.9325, 626.9541, 627.715, 655.047, 655.414, 657.002, 657.028, 658.235, 658.25