Bill > H0099

This bill amends Florida's statutes regarding reinsurance intermediary managers by modifying definitions and exclusions in the insurance regulatory framework. Specifically, the bill revises the definition of "controlling person" to clarify that it means having direct or indirect power to direct or manage a reinsurance intermediary's activities. The bill also updates the definition of "reinsurance intermediary manager" by adding a new exclusion for underwriting managers that manage assumed facultative risks for a reinsurer, provided that the facultative reinsurance business managed is less than 10 percent of the reinsurer's annual gross written premium. Additionally, the bill reenacts a related section of Florida insurance law to incorporate these technical changes, ensuring that the modifications are properly referenced across statutory sections. These changes aim to provide more precise language and create a narrower, more specific definition of reinsurance intermediary managers, which could help clarify regulatory responsibilities and reduce potential ambiguities in insurance intermediary management.

Business and Industry

https://www.flsenate.gov/Session/Bill/2026/99