(1) No captive insurance company shall be permitted to join or contribute financially to any joint underwriting association or guaranty fund in this state; nor shall any captive insurance company, its insured, or its parent or any affiliated company receive any benefit from any such joint underwriting association or guaranty fund for claims arising out of the operations of such captive insurer.
(2) No industrial insured captive insurance company shall be permitted to join or contribute financially to any joint underwriting association or guaranty fund in this state; nor shall any industrial insured captive insurance company, its industrial insured, or its parent or any affiliated company receive any benefit from any such joint underwriting association or guaranty fund for claims arising out of the operations of such industrial insured captive insurance company.
History.—ss. 664, 809(1st), ch. 82-243; ss. 8, 11, ch. 87-127; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 6, ch. 2013-209.
Note.—Former s. 628.613.
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.