624.401 Certificate of authority required.— (1) No person shall act as an insurer, and no insurer or its agents, attorneys, subscribers, or representatives shall directly or indirectly transact insurance, in this state except as authorized by a subsisting certificate of authority issued to the insurer by the office, except as to such transactions as are expressly otherwise […]
624.402 Exceptions, certificate of authority required.—A certificate of authority shall not be required of an insurer with respect to: (1) Investigation, settlement, or litigation of claims under its policies lawfully written in this state, or liquidation of assets and liabilities of the insurer (other than collection of new premiums), all as resulting from its former authorized operations […]
624.4031 Church benefit plans and church benefit board.— (1) For purposes of this section, “church benefits board” means an organization as described in s. 414(e)(3)(A) of the Internal Revenue Code of 1986, as amended, that: (a) Has the principal purpose or function of administering or funding a plan or program for providing retirement benefits or welfare benefits for […]
624.404 General eligibility of insurers for certificate of authority.—To qualify for and hold authority to transact insurance in this state, an insurer must be otherwise in compliance with this code and with its charter powers and must be an incorporated stock insurer, an incorporated mutual insurer, or a reciprocal insurer, of the same general type as […]
624.4055 Restrictions on existing private passenger automobile insurance.—No insurer writing private passenger automobile insurance in this state may continue to write such insurance if the insurer writes homeowners’ insurance in another state but not in this state, unless the insurer writing private passenger automobile insurance in this state is affiliated with an insurer writing homeowners’ insurance […]
624.406 Combinations of insuring powers, one insurer.—An insurer which otherwise qualifies therefor may be authorized to transact any one kind or combination of kinds of insurance as defined in part V except: (1) A life insurer may also grant annuities, but shall not be authorized to transact any other kind of insurance except health insurance, disability income […]
624.407 Surplus required; new insurers.— (1) To receive authority to transact any one kind or combinations of kinds of insurance, as defined in part V of this chapter, an insurer applying for its original certificate of authority in this state shall possess surplus as to policyholders at least the greater of: (a) For a property and casualty insurer, […]
624.40711 Restrictions on insurers that are wholly owned subsidiaries of insurers to do business in state.—Notwithstanding any other provision of law: (1) A new certificate of authority for the transaction of residential property insurance may not be issued to any insurer domiciled in this state that is a wholly owned subsidiary of an insurer authorized to do […]
624.4073 Officers and directors of insolvent insurers.—Any person who was an officer or director of an insurer doing business in this state and who served in that capacity within the 2-year period before the date the insurer became insolvent, for any insolvency that occurs on or after July 1, 2002, may not thereafter serve as an […]
624.408 Surplus required; current insurers.— (1) To maintain a certificate of authority to transact any one kind or combinations of kinds of insurance, as defined in part V of this chapter, an insurer in this state must at all times maintain surplus as to policyholders at least the greater of: (a) Except as provided in paragraphs (e), (f), […]
624.4085 Risk-based capital requirements for insurers.— (1) As used in this section, the term: (a) “Adjusted risk-based capital report” means a risk-based capital report that has been adjusted by the office in accordance with this section. (b) “Authorized control level risk-based capital” means the number determined under the risk-based capital formula in the risk-based capital instructions. (c) “Company action level […]
624.40851 Confidentiality of risk-based capital information.— (1) The initial risk-based capital report and any adjusted risk-based capital report; any risk-based capital plan and any revised risk-based capital plan; and working papers and reports of examination or analysis of an insurer performed pursuant to a plan or corrective order, or regulatory action level event, with respect to any […]
624.4094 Bail bond premiums.— (1) The Legislature finds that a significant portion of bail bond premiums is retained by the licensed bail bond agents or appointed managing general agents. For purposes of reporting in financial statements required to be filed with the office pursuant to s. 624.424, direct written premiums for bail bonds by a domestic insurer […]
624.4095 Premiums written; restrictions.— (1) Whenever an insurer’s ratio of actual or projected annual written premiums as adjusted in accordance with subsection (4) to current or projected surplus as to policyholders as adjusted in accordance with subsection (6) exceeds 10 to 1 for gross written premiums or exceeds 4 to 1 for net written premiums, the office […]
624.410 Permissible insuring combinations without additional capital funds.—A property insurer may include such amount and kind of insurance against legal liability for injury, damage, or loss to the person or property of others, and for medical, hospital, and surgical expense related to such injury, as the office deems to be reasonably incidental to insurance of real […]
624.411 Deposit requirement; domestic insurers and foreign insurers.— (1) As to domestic insurers, the office shall not issue or permit to exist a certificate of authority unless such insurer has deposited and maintains deposited in trust for the protection of the insurer’s policyholders or its policyholders and creditors with the department securities eligible for such deposit under […]
624.412 Deposit of alien insurers.— (1) An alien insurer shall not have authority to transact insurance in this state unless it has and maintains within the United States as trust deposits with public officials having supervision over insurers, or with trustees, public depositories, or trust institutions approved by the office, assets available for discharge of its United […]
624.413 Application for certificate of authority.— (1) To apply for a certificate of authority, an insurer shall file its application therefor with the office, upon a form adopted by the commission and furnished by the office, showing its name; location of its home office and, if an alien insurer, its principal office in the United States; kinds […]
624.4135 Redomestication.—The commission shall adopt rules establishing procedures and forms for a foreign insurer to apply for a certificate of authority as a domestic insurer. History.—s. 3, ch. 2000-370; s. 793, ch. 2003-261.
624.414 Issuance or refusal of authority.—The fee for filing application for a certificate of authority shall not be subject to refund. The office shall issue to the applicant insurer a proper certificate of authority if it finds that the insurer has met the requirements of this code, exclusive of the requirements relative to the filing and […]
