(1) A captive insurance company may provide reinsurance, as authorized in this part, on risks ceded by any other insurer.
(2) A captive insurance company may take credit for reserves on risks or portions of risks ceded to authorized insurers or reinsurers and unauthorized insurers or reinsurers complying with s. 624.610. A captive insurance company may not take credit for reserves on risks or portions of risks ceded to an unauthorized insurer or reinsurer if the insurer or reinsurer is not in compliance with s. 624.610.
History.—s. 31, ch. 2012-151; s. 5, ch. 2013-209.
Structure Florida Statutes
Chapter 628 - Stock and Mutual Insurers; Holding Companies
Part V - Captive Insurers (Ss. 628.901-628.920)
628.905 - Licensing; authority.
628.906 - Application requirements; restrictions on eligibility of officers and directors.
628.907 - Minimum capital and net assets requirements; restriction on payment of dividends.
628.908 - Surplus requirements; restriction on payment of dividends.
628.909 - Applicability of other laws.
628.910 - Incorporation options and requirements.
628.911 - Reports and statements.
628.912 - Discounting of loss and loss adjustment expense reserves.
628.913 - Captive reinsurance companies.
628.914 - Minimum capitalization or reserves for captive reinsurance companies.
628.9141 - Incorporation of a captive reinsurance company.
628.9142 - Reinsurance; effect on reserves.
628.915 - Exemption from compulsory association.
628.917 - Insolvency and liquidation.
628.918 - Management of assets of captive reinsurance company.
628.919 - Standards to ensure risk management control by parent company.