NRRA Bill Passes Florida Legislature - OIR Pop-Up Gone
We have just been informed that one of two alternate proposed bills containing language drafted by NRRA has now passed both houses of the Florida Legislature and is being sent to the Governor for signature.
Here is the Bill: https://static-s3.lobbytools.com/bills/2024/pdf/0215C1.pdf
As previously reported, following the debacle of last year’s legislative efforts to illegally change Florida law affecting RRGs, NRRA had submitted two (2) alternative drafts of proposed bill language addressing two (2) Florida Statutes: section 324.021, defining financial responsibility in the state; and section 627.944, defining foreign risk retention groups.
While neither of those statutes technically violated the LRRA, the state’s definitions of “authorized insurers” versus “insurers authorized to do business in the state” had been anecdotally used to thwart RRG operations in certain areas, as has been done and continues to be done in many other states. So following vigorous opposition by NRRA, after last year’s bill(s) died, we went back to work for this year. See NRRA website news articles for a history of these efforts.
Fingers are crossed that the Governor will sign this, and we’ve seen no evidence thusfar that he will not.
Another major step in the success of these efforts, part of NRRA’s Reputational Marketing Campaign, is the fact that Insurance Commissioner, Michael Yawarsky, had already agreed to remove Florida’s infamous RRG “pop-up” on its website and confirmed to your Executive Director in our personal meeting of December 12, 2023, that it would not be resurrected.
Tim Sullivan, NRRA Chair, adds, "With more support to our campaign from all RRGs and other Industry leadership, we are hopeful to have yet another bill to present to the Florida Legislature next year, to continue with our initiatives."
While as Yogi Berra said, “it ain’t over ‘til its over,” we still have plans to continue to help RRGs in the Sunshine State. And, as we see in many states, misinformation about RRGs abounds. Stay tuned for further updates.
Register now for the RRG Leaders Summit on March 19, 2024, at Sofitel Los Angeles, Beverly Hills, CA. Hotel room block extended to March 13, 2024.
Complete our RRGLS Registration Form and Request a Ticket on our website and email completed form to info@riskretention.org.
Make your hotel reservation before Wednesday, March 13, 2024 at the Sofitel. Follow hotel reservations link use code "NRRA24" (below program on website.) Please note that the room including taxes is listed at $372.37 and the hotel has indicated the urban fee of $36.56 will be deducted from that amount. Do contact the Sofitel at (310) 278-5444 if you have any issues with the hotel reservations, as their website has been "acting up."
See our Event program here.
Other Notices & Information
The RRG Leaders Summit Event is for RRG Executives only.*** This event is designed to be a closed session meeting to allow risk retention group (RRG) executives and non-service provider board members to informally meet, share ideas, strategies and concerns and to learn from one another how to take those ideas back to their companies. It is an “invitation only -- no solicitation” event, so applicants should be guided accordingly.