(1) No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insured, receive any benefit from any such fund for claims arising out of the operations of the risk retention group.
(2) A risk retention group shall participate in this state’s joint underwriting associations as established under ss. 627.311(3) and 627.351(1), (3), (4), and (5).
History.—ss. 2, 5, ch. 87-282; s. 114, ch. 92-318.
Structure Florida Statutes
Chapter 627 - Insurance Rates and Contracts
Part XIX - Purchasing Groups and Risk Retention Groups (Ss. 627.941-627.955)
627.943 - Risk retention groups certified in Florida.
627.944 - Risk retention groups not certificated in this state.
627.945 - Compulsory association.
627.946 - Countersignatures not required.
627.947 - Purchasing groups; exemption from certain insurer provisions.
627.948 - Notice and registration requirements of purchasing groups.
627.949 - Restrictions on insurance purchased by purchasing groups.
627.950 - Administrative and procedural authority regarding risk retention and purchasing groups.
627.951 - Penalties; cease and desist orders; injunctions.
627.952 - Risk retention and purchasing group agents.
627.953 - Binding effect of orders issued in United States District Court.