THE BILL ITSELF
SB 642
Foreign and Alien Bail Bond Insurers
Florida Senate - 2026 SB 642 By Senator Burgess 23-01023-26 2026642__
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A bill to be entitled
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An act relating to foreign and alien bail bond
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insurers; amending s. 624.4094, F.S.; providing duties
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of certain foreign and alien bail bond insurers
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relating to reporting bail bond premiums to the Office
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of Insurance Regulation, keeping records of
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considerations paid for bail bonds written by the
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insurers, and disclosing certain information in the
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financial statements filed with the office; providing
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an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 624.4094, Florida Statutes, is amended
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to read:
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624.4094 Bail bond premiums.—
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(1) The Legislature finds that a significant portion of
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bail bond premiums is retained by the licensed bail bond agents
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or appointed managing general agents. For purposes of reporting
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in financial statements required to be filed with the office
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pursuant to s. 624.424, direct written premiums for bail bonds
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by a domestic , foreign, or alien insurer doing business in this
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state must shall be reported net of any amounts retained by
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licensed bail bond agents or appointed managing general agents.
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However, in no case may shall the direct written premiums for
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bail bonds be less than 6.5 percent of the total consideration
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received by the agent for all bail bonds written by the agent.
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This subsection also applies to any determination of compliance
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with s. 624.4095.
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(2) Premiums assumed by a domestic , foreign, or alien
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insurer must shall be reported consistent with subsections (1)
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and (4) for purposes of filing financial statements with the
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office.
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(3) Each domestic , foreign, or alien bail bond insurer
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shall keep complete and accurate records of the total
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consideration paid for all bail bonds written by such insurer.
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(4) Each domestic , foreign, or alien bail bond insurer
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shall disclose the following information in the notes to the
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financial statement in the insurer’s annual statement filed with
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the office.
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(a) The gross bail bond premiums written in each state by
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agents for the company.
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(b) The amount of premium taxes incurred by the company in
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each state.
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(c) Total consideration withheld by agents and not reported
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as an expense by the insurer in financial statements filed with
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the office.
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(d) The amount of bail bond premium included on the surety
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line of the annual statement filed with the office.
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Section 2. This act shall take effect July 1, 2026.