Florida Statute 627.949 - Full Text and Legal Analysis

627.949 Restrictions on insurance purchased by purchasing groups.—

(1) In order to purchase insurance or coverage for a risk located in this state, which risk is a subject of insurance of a member of the purchasing group, a purchasing group shall only purchase insurance or coverage from:

(a) A risk retention group that is certificated or licensed in one of the states of the United States;

(b) An authorized insurer; or

(2) A purchasing group shall utilize an agent licensed and appointed in this state in order to solicit, transact, or purchase insurance or coverage for a risk located in this state, which risk is a subject of insurance of a member of the purchasing group.

History.—ss. 2, 5, ch. 87-282; s. 134, ch. 91-108; s. 114, ch. 92-318.

Cases Citing F.S. 627.949

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·State of Florida, Dep't of Ins. v. Nat'l Amusement Purchasing Grp., Inc., Risk Retention Serv. Corp., Bel-Air Ins. Co., 905 F.2d 361 (11th Cir. 1990).
Cited 11 times | Published | Court of Appeals for the Eleventh Circuit | 1990 U.S. App. LEXIS 11313, 1990 WL 83332
..., through policies *363 issued by Bel-Aire. Plaintiff responded by filing suit on August 27, 1987, seeking declaratory and injunctive relief from defendants’ alleged violations of the insurance laws of Florida. Plaintiff contends that, pursuant to section 627.949 of the Florida Statutes, a purchasing group may purchase insurance or coverage on a risk located in Florida only from: (1) a risk retention group that is certificated or licensed in one of the states of the United States; (2) an authorized insurer; or (3) an eligible surplus lines insurer....
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Cited as authorityv. Shovelton (2019)
phrase: "rule_authority"
Cited as authorityWadsworth (2014)
phrase: "rule_authority"
Cited as authoritySoyoola (2013)
phrase: "rule_authority"
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This Florida statute resource is curated by Graham W. Syfert, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). Attorney Syfert regularly handles Chapter 627 matters in the context of insurance coverage law and represents clients throughout Northeast Florida. For legal consultation, call 904-383-7448.

Florida/Georgia Personal Injury & Workers Compensation

Cases Citing F.S. 627.949

·State of Florida, Dep't of Ins. v. Nat'l Amusement Purchasing Grp., Inc., Risk Retention Serv. Corp., Bel-Air Ins. Co., 905 F.2d 361 (11th Cir. 1990).