(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 business in any other state.
(2) The rate filings of any insurer domiciled in this state that is a wholly owned subsidiary of an insurer authorized to do business in any other state shall include information relating to the profits of the parent company of the insurer domiciled in this state.
History.—s. 25, ch. 2007-90; s. 139, ch. 2020-2.
Structure Florida Statutes
Chapter 624 - Insurance Code: Administration and General Provisions
Part III - Authorization of Insurers and General Requirements (Ss. 624.401-624.491)
624.401 - Certificate of authority required.
624.402 - Exceptions, certificate of authority required.
624.4031 - Church benefit plans and church benefit board.
624.404 - General eligibility of insurers for certificate of authority.
624.4055 - Restrictions on existing private passenger automobile insurance.
624.406 - Combinations of insuring powers, one insurer.
624.407 - Surplus required; new insurers.
624.4073 - Officers and directors of insolvent insurers.
624.408 - Surplus required; current insurers.
624.4085 - Risk-based capital requirements for insurers.
624.40851 - Confidentiality of risk-based capital information.
624.4094 - Bail bond premiums.
624.4095 - Premiums written; restrictions.
624.410 - Permissible insuring combinations without additional capital funds.
624.411 - Deposit requirement; domestic insurers and foreign insurers.
624.412 - Deposit of alien insurers.
624.413 - Application for certificate of authority.
624.414 - Issuance or refusal of authority.
624.415 - Ownership of certificate of authority; return.
624.416 - Continuance, expiration, reinstatement, and amendment of certificate of authority.
624.418 - Suspension, revocation of certificate of authority for violations and special grounds.
624.421 - Duration of suspension; insurer’s obligations during suspension period; reinstatement.
624.4211 - Administrative fine in lieu of suspension or revocation.
624.4212 - Confidentiality of proprietary business and other information.
624.4213 - Trade secret documents.
624.422 - Service of process; appointment of Chief Financial Officer as process agent.
624.424 - Annual statement and other information.
624.4241 - NAIC filing requirements.
624.4243 - Reporting of premium growth.
624.4245 - Change in controlling interest of foreign or alien insurer; report required.
624.425 - Agent countersignature required, property, casualty, surety insurance.
624.426 - Exceptions to countersignature law.
624.428 - Licensed agent law, life and health insurances.
624.430 - Withdrawal of insurer or discontinuance of writing certain kinds or lines of insurance.
624.4305 - Nonrenewal of residential property insurance policies.
624.4315 - Workers’ compensation insurers; notice of significant underwriting change.
624.436 - Florida Nonprofit Multiple-Employer Welfare Arrangement Act.
624.438 - General eligibility.
624.4385 - Certain words prohibited in name of organization.
624.439 - Filing of application.
624.44 - Examination by the office.
624.441 - Insolvency protection.
624.4411 - Administrative, provider, and management contracts.
624.4414 - Employer participants’ liability.
624.4416 - Assessments by receiver.
624.4417 - Certain sales prohibited.
624.442 - Annual reports; actuarial certification; quarterly reports; penalties.
624.443 - Place of business; maintenance of records.
624.4431 - Administration; rules.
624.4432 - Assets, liabilities, and investments.
624.444 - Suspension, revocation of approval.
624.445 - Order, notice, duration, effect of suspension or revocation; administrative fine.
624.446 - Rehabilitation, dissolution.
624.447 - Certificate of insurance for contractors.
624.448 - Assets of insurers; reporting requirements.
624.449 - Insurer investment in foreign companies.
624.45 - Participation of financial institutions in reinsurance and in insurance exchanges.
624.462 - Commercial self-insurance funds.
624.4621 - Group self-insurance funds.
624.4622 - Local government self-insurance funds.
624.46223 - Notice of intent to withdraw.
624.46225 - Self-insured public utilities.
624.46226 - Public housing authorities self-insurance funds; exemption for taxation and assessments.
624.4623 - Independent Educational Institution Self-Insurance Funds.
624.4625 - Corporation not for profit self-insurance funds.
624.4626 - Electric cooperative self-insurance fund.
624.464 - Certificate of authority required; penalties.
624.466 - Application requirements for certificate of authority.
624.468 - Continuing requirements for certificate of authority.
624.4741 - Venue in assessment actions.
624.475 - Tax on premiums, contributions, and assessments.
624.476 - Impaired self-insurance funds.
624.477 - Liquidation, rehabilitation, reorganization, and conservation.
624.480 - Filing, approval, and disapproval of forms.
624.482 - Making and use of rates.
624.483 - Self-insurer members; payment of delinquent premiums and assessments.
624.484 - Registration of agent.
624.487 - Enforcement of specified insurance provisions.
624.488 - Applicability of related laws.