THE BILL ITSELF
HB 1163
Risk Retention Groups
1
A bill to be entitled
2
An act relating to risk retention groups; amending s.
3
627.944, F.S.; specifying that risk retention groups
4
registered to do business in this state are insurance
5
companies authorized to do business in this state;
6
providing an effective date.
8
Be It Enacted by the Legislature of the State of Florida:
10
Section 1. Subsection (13) is added to section 627.944,
11
Florida Statutes, to read:
12
627.944 Risk retention groups not certificated in this
13
state.—Risk retention groups certificated or licensed in states
14
other than this state and seeking to do business as a risk
15
retention group in this state must observe and abide by the laws
16
of this state as follows:
17
(13) AUTHORIZATION.—A risk retention group registered to
18
do business in this state pursuant to this section is an
19
insurance company authorized to do business in this state.
20
Section 2. This act shall take effect July 1, 2026.