Net worth required to maintain certificate of authority

Fla. Stat. § 642.0262 — under Chapter 642.

Fla. Stat. § 642.0262

To maintain a certificate of authority to transact legal expense insurance, a legal expense insurance corporation must maintain a net worth of not less than the greater of:(1) Ten thousand dollars; or(2) Ten percent of the insurer’s total liabilities.

(1) Ten thousand dollars; or

(2) Ten percent of the insurer’s total liabilities.