Florida Statute 627.826 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

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F.S. 627.826

627.826 “Premium finance company” defined.—

(1) An “insurance premium finance company” is:

(a) A person engaged, in whole or in part, in the business of entering into premium finance agreements with insureds; or

(b) A person engaged, in whole or in part, in the business of acquiring premium finance agreements from other premium finance companies.

(2) The following entities are exempt from the provisions of this part:

(a) Credit unions, banks, savings and loan associations, and other lending institutions as defined under chapters 516, 657, 658, and 665 or their federally chartered counterparts.

(b) Any person who purchases or otherwise acquires premium finance agreements from a licensee if the licensee retains the possession of and the legal obligation to service the agreements and collect payments due under the agreements and remains responsible for the premium finance agreements being administered in compliance with this part.

(3) The inclusion of a charge for insurance on a bona fide sale of goods or services on installments is not subject to the provisions of this part.

History.—s. 1, ch. 63-16; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 166, ch. 79-164; s. 431, ch. 81-259; ss. 2, 3, ch. 81-318; ss. 594, 612, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 204, ch. 92-303; s. 114, ch. 92-318; s. 1, ch. 2003-152.

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Amendments to 627.826

Annotations, Discussions, Cases:

Cases Citing Statute 627.826

Total Results: 2

Smith v. Foremost Ins. Co.

884 So. 2d 341, 2004 WL 2008227

District Court of Appeal of Florida | Filed: Sep 10, 2004 | Docket: 1281775

Cited 2 times | Published

acquiring premium finance agreements with insureds. § 627.826. The trial court ruled, and appellees Foremost

Beacon Finance, Inc. v. Department of Insurance, State of Florida

656 So. 2d 197, 1995 Fla. App. LEXIS 5343, 1995 WL 298948

District Court of Appeal of Florida | Filed: May 18, 1995 | Docket: 64757133

Published

under chapter 627 and separately defined in section 627.826, Florida Statutes. Further evidence of the