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Fla. Stat. § 624.40711 (2025)

Restrictions on insurers that are wholly owned subsidiaries of insurers to do business in state.

✓ 2025 Florida Statutes — current through the 2025 Regular Session
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624.40711 Restrictions on insurers that are wholly owned subsidiaries of insurers to do business in state.—Notwithstanding any other provision of law:
(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.

This Florida statute resource is curated by the lawyer who curates this resource, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). Attorney Syfert regularly handles Chapter 624 matters in the context of insurance disputes and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.