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Florida Statutes, Title XXXVII

Florida/Statutes

← All Florida coverage

Title XXXVII, Insurance

19 chapters · 2,278 sections in this title.

All chapters in Title XXXVII2,278 Ch 627, Insurance Rates and Contracts626 Ch 626, Insurance Field Representatives and …368 Ch 624, Insurance Code: Administration and G…222 Ch 641, Health Care Service Programs165 Ch 634, Warranty Associations154 Ch 631, Insurer Insolvency; Guaranty of Payment150 Ch 628, Stock and Mutual Insurers; Holding C…100 Ch 633, Fire Prevention and Control89 Ch 636, Prepaid Limited Health Service Organ…79 Ch 625, Accounting, Investments, and Deposit…78 Ch 651, Continuing Care Contracts54 Ch 648, Bail Bond Agents49 Ch 629, Reciprocal Insurers35 Ch 632, Fraternal Benefit Societies35

2,278 sections·Filtered byTitle XXXVII✕

Fla. Stat. § 627.94073 Notice of cancellation; grace period
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(1) A long-term care policy shall provide that the insured is entitled to a grace period of not less than 30 days, within which payment of any premium after the first may be made. The insurer may require payment of an interest charge not in excess of 8 percent per year for the nu…
Fla. Stat. § 627.94074 Standards for benefit triggers
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(1)(a) A long-term care insurance policy shall condition the payment of benefits on a determination of the insured’s ability to perform activities of daily living and on cognitive impairment. Eligibility for the payment of benefits shall not be more restrictive than requiring eit…
Fla. Stat. § 627.94075 A qualified state Long-Term Care Insurance Partnership Program in Florida
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The commission may adopt rules pursuant to ss. 120.536(1) and 120.54 to implement applicable provisions of a qualified state Long-Term Care Insurance Partnership Program in Florida in accordance with the requirements of s. 1917(b) of the Social Security Act, as amended, any appli…
Fla. Stat. § 627.94076 Time limit on certain defenses
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Notwithstanding the provisions of s. 627.607, each long-term care insurance policy shall provide that the policy shall be incontestable after it has been in force during the lifetime of the insured for a period of 2 years after its date of issue except for nonpayment of premiums.…

Showing 1,251–1,300 of 2,278

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Fla. Stat. § 627.9408 Rules

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(1) The commission may adopt rules pursuant to ss. 120.536(1) and 120.54 to administer this part.(2) The commission may adopt by rule the provisions of the Long-Term Care Insurance Model Regulation adopted by the National Association of Insurance Commissioners in the second quart…

Fla. Stat. § 627.941 Purpose

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The purpose of this part is to regulate the formation or operation of risk retention groups and purchasing groups in this state.History.—ss. 2, 5, ch. 87-282; s. 114, ch. 92-318.

Fla. Stat. § 627.942 Definitions

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As used in this part, unless the context otherwise requires:(1) “Completed operations liability” means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by:(a) Any person who performs that work; or(b) Any p…

Fla. Stat. § 627.943 Risk retention groups certified in Florida

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(1) A risk retention group seeking to be certified in this state shall first obtain a permit pursuant to chapter 628. The risk retention group shall then be organized as a limited liability association or corporation under the laws of this state and shall obtain and maintain a ce…

Fla. Stat. § 627.944 Risk retention groups not certificated in this state

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Risk retention groups certificated or licensed in states other than this state and seeking to do business as a risk retention group in this state must observe and abide by the laws of this state as follows:(1) NOTICE OF OPERATIONS AND DESIGNATION OF CHIEF FINANCIAL OFFICER AS AGE…

Fla. Stat. § 627.945 Compulsory association

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(1) No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insured, receive any benefit from any such fund for claims arising out of th…

Fla. Stat. § 627.946 Countersignatures not required

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A policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned by a resident agent notwithstanding any other provision of the Florida Insurance Code to the contrary.History.—ss. 2, 5, ch. 87-282; s. 114, ch. 92-318.

Fla. Stat. § 627.947 Purchasing groups; exemption from certain insurer provisions

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Any purchasing group meeting the criteria established under the provisions of the federal Liability Risk Retention Act of 1986 shall be exempt from any law of this state relating to the creation of groups for the purchase of insurance or to prohibition of group purchasing or to a…

Fla. Stat. § 627.948 Notice and registration requirements of purchasing groups

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(1) A purchasing group which intends to do business in this state shall furnish notice to the office which shall:(a) Identify the state in which the group is domiciled.(b) Specify the lines and classifications of liability insurance which the purchasing group intends to purchase.…

Fla. Stat. § 627.949 Restrictions on insurance purchased by purchasing groups

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(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…

Fla. Stat. § 627.950 Administrative and procedural authority regarding risk retention and purchasing groups

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The office is authorized to make use of any of the powers established under the Florida Insurance Code to enforce the laws of this state so long as those powers are not specifically preempted by the Product Liability Risk Retention Act of 1981 as amended by the Risk Retention Ame…

Fla. Stat. § 627.951 Penalties; cease and desist orders; injunctions

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(1) A risk retention group which violates any applicable provision of the Florida Insurance Code shall be subject to fines and penalties applicable to licensed insurers generally, including revocation of its license or the right to do business in this state. In addition, any such…

Fla. Stat. § 627.952 Risk retention and purchasing group agents

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(1) Any person offering, soliciting, selling, purchasing, administering, or otherwise servicing insurance contracts, certificates, or agreements for any purchasing group or risk retention group to any resident of this state, either directly or indirectly, by the use of mail, adve…

Fla. Stat. § 627.953 Binding effect of orders issued in United States District Court

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An order issued by any district court of the United States enjoining a risk retention group from transacting, soliciting, or selling insurance or from operating in any state or in all states or in any territory or possession of the United States, upon a finding that such a group …

Fla. Stat. § 627.954 Rules

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The commission may establish and from time to time amend such rules relating to risk retention groups and purchasing groups as may be necessary or desirable to carry out the provisions of this part.History.—ss. 2, 5, ch. 87-282; s. 114, ch. 92-318; s. 1251, ch. 2003-261.

Fla. Stat. § 627.955 Limitation on deductibles

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A purchasing group may not purchase insurance that provides for a deductible or self-insured retention that is applicable to the group as a whole. However, coverage may provide for a deductible or self-insured retention that is applicable to individual members.History.—s. 18, ch.…

Fla. Stat. § 627.971 Definitions

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As used in this part:(1)(a) “Financial guaranty insurance” means a surety bond, insurance policy, an indemnity contract issued by an insurer, or any similar guaranty, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemn…

Fla. Stat. § 627.972 Organization; financial requirements

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(1) A financial guaranty insurance corporation must be organized and licensed in the manner prescribed in this code for stock or mutual property and casualty insurers except that:(a) A corporation organized to transact financial guaranty insurance may, subject to this code, be li…

Fla. Stat. § 627.973 Limitations

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(1) Financial guaranty insurance shall be transacted in this state only by a corporation licensed for such purpose, except that a property and casualty insurer transacting business pursuant to the provisions of this code may transact financial guaranty insurance in this state if …

Fla. Stat. § 627.974 Filing of policy forms and rates

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(1) Policy forms and any amendments thereto must be filed with the office within 30 days after their use by the insurer. A policy may not provide coverage of the acceleration of payments due under the guaranteed obligations, including any payment in advance of scheduled maturity …

Fla. Stat. § 627.975 Reinsurance

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(1) For financial guaranty insurance which takes effect on or after July 1, 1988, an insurer transacting financial guaranty insurance shall receive credit for reinsurance in accordance with the provisions of this code applicable to property and casualty insurers, as an asset or a…

Fla. Stat. § 627.981 Scope of part

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This part applies to all mortgage insurance offered, issued, or delivered in this state, by mail or otherwise, in connection with consolidations.History.—ss. 1, 2, ch. 90-149; s. 114, ch. 92-318.

Fla. Stat. § 627.982 Definitions

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As used in this part:(1) “Consolidation” means any transaction in which a financial institution or servicer makes its premium collection services available to its mortgage debtors in connection with a particular insurer’s (“new insurer”) offer of mortgage insurance, which offer i…

Fla. Stat. § 627.983 General requirements

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No insurer shall participate in any consolidation unless it complies with the following requirements:(1) The offer of new coverage shall be made on a timely basis as follows:(a) In a consolidation conducted in connection with a loan transfer, the offer of new coverage to the pros…

Fla. Stat. § 627.984 Group-to-group consolidations

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Where both the old coverage and the new coverage are provided under group policies:(1) A signed application need not be obtained if all of the following apply:(a) The premium for the new plan is the same as or less than the premium for the old plan.(b) The amount of insurance pro…

Fla. Stat. § 627.985 Disclosure requirements

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(1) In conjunction with any offer of new coverage made in any consolidation, the new insurer shall disclose in writing to each prospective insured all of the following:(a) That the insured debtor may have the right to continue or convert her or his old coverage by paying premiums…

Fla. Stat. § 627.986 Replacement rules

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Group-to-group consolidations shall be exempt from any rule of the commission relating to the replacement of existing life or health insurance. Nothing in this part shall be interpreted as creating an exemption for consolidations which involve individual policies.History.—ss. 1, …

Fla. Stat. § 627.987 Policy forms

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No policy or group certificate of mortgage insurance used in connection with any consolidation, and no application, endorsement, or rider which becomes a part of any such policy or certificate, shall be issued or delivered in this state until a copy of the form has been filed wit…

Fla. Stat. § 627.9901 Purpose

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The purpose of this part is to:(1) Promote the public welfare by regulating collateral protection insurance on real property.(2) Create a legal framework within which collateral protection insurance on real property may be written in this state.(3) Help maintain the separation be…

Fla. Stat. § 627.9902 Scope

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(1) This part applies to insurers and insurance agents engaged in any mortgage transaction involving collateral protection insurance.(2) All collateral protection insurance written in connection with mortgaged real property, including manufactured and mobile homes, is subject to …

Fla. Stat. § 627.9903 Definitions

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As used in this part, the term:(1) “Affiliate” has the same meaning as in s. 624.10.(2) “Collateral protection insurance” has the same meaning as in s. 624.6085, provided that for purposes of this part, the term applies only to mortgaged real property and not to personal property…

Fla. Stat. § 627.9904 Term of insurance policy

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(1) Collateral protection insurance must become effective no earlier than the date of lapse of insurance upon mortgaged real property subject to the terms of a mortgage agreement or any state or federal law requiring the same.(2) Individual collateral protection insurance must te…

Fla. Stat. § 627.9905 Calculation of coverage and payment of premiums

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(1) Any collateral protection insurance coverage, and the subsequent calculation of premium, should be based upon the replacement cost value of the property, which is determined as:(a) If known to the lender or servicer, the last known coverage amount, which is the dwelling cover…

Fla. Stat. § 627.9906 Prohibited practices

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(1) An insurer or insurance agent may not issue collateral protection insurance on mortgaged property that the insurer or insurance agent, or an affiliate thereof, owns, performs the servicing for, or owns the servicing right to.(2) An insurer or insurance agent may not compensat…

Fla. Stat. § 627.9907 Noncircumvention

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This part may not be construed to authorize an insurance agent or insurer solely underwriting collateral protection insurance to circumvent the requirements of this part. Any requirement, limitation, or exclusion provided in this part applies to an insurer or insurance agent invo…

Fla. Stat. § 627.9908 Evidence of coverage

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Collateral protection insurance must be set forth in an individual policy or certificate of insurance. A copy of the individual policy, certificate of insurance, or other evidence of insurance coverage must be mailed, first-class mailed, or delivered in person to the last known a…

Fla. Stat. § 627.9909 Filing, approval, and withdrawal of forms and rates

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(1) Except as otherwise provided in this part, all policy forms and certificates of insurance to be delivered or issued for delivery in this state are subject to the applicable provisions of s. 627.410, and the schedules of premium rates pertaining thereto are subject to the appl…

Fla. Stat. § 627.9911 Enforcement; proceedings; penalties

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The office has all rights and powers to enforce the provisions of this part as provided by s. 624.307. All proceedings must be conducted in accordance with chapter 120. Any penalty must be assessed in accordance with s. 624.4211.History.—s. 11, ch. 2023-210.

Fla. Stat. § 627.9912 Rulemaking

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The commission may adopt rules to administer this part.History.—s. 12, ch. 2023-210.

Fla. Stat. § 627.9913 Severability

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If any provision of this part or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this part which can be given effect without the invalid provision or application, and to this end the provisions of t…

Fla. Stat. § 628.011 Scope of part

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This part applies only to domestic insurers, mutual insurers, and captive insurers, except that s. 628.341(2) applies also as to foreign and alien insurers.History.—s. 621, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 631, 665, 809(1st), ch. 82-243; s…

Fla. Stat. § 628.021 “Stock insurer” defined

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A “stock insurer” is an incorporated insurer with its capital divided into shares and owned by its stockholders.History.—s. 622, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 665, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.

Fla. Stat. § 628.031 “Mutual insurer” defined

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A “mutual insurer” is an incorporated insurer without permanent capital stock, the governing body of which is elected in accordance with this part.History.—s. 623, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 665, 809(1st), ch. 82-243; s. 4, ch. 85-21…

Fla. Stat. § 628.041 Applicability of general corporation statutes

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The applicable statutes of this state relating to the powers and procedures of domestic private corporations formed for profit shall apply to domestic stock insurers and to domestic mutual insurers, except:(1) As to any domestic mutual insurers incorporated pursuant to chapter 61…

Fla. Stat. § 628.051 Application for permit to form insurer; contents; fee

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(1) No domestic insurer shall be formed unless the persons so proposing have received a permit from the office.(2) Written application for such permit shall be filed with the office. Such application and filing shall include:(a) The name, type, and purpose of insurer.(b) The name…

Fla. Stat. § 628.061 Investigation of proposed organization

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In connection with any proposal to organize or incorporate a domestic insurer, the office shall make an investigation of:(1) The character, reputation, financial standing, and motives of the organizers, incorporators, and subscribers organizing the proposed insurer or any attorne…