On March 24, the Florida House voted unanimously to overrideformer Gov. Charlie Crist's 2010 veto of HB 7103 relating to agriculture, effective immediately. HB 7103amends s. 624.4095, F.S. in several areas, from relatively minorprocedural changes to adjustments in fees, taxes, andinsurance.
|In the insurance arena specifically, it requires that grosswritten premiums for certain crop insurance not be included whencalculating an insurer's gross writing ratio; requires thatliabilities for ceded reinsurance premiums be netted against assetsfor amounts recoverable from reinsurers; and requires that insurerswho write other insurance products disclose a breakout of grosswritten premiums for crop insurance.
|The insurance-related changes are expected to afford increasedinsurance options to individuals who grow agriculturalproducts.
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