Florida HB 99: Reinsurance Intermediary Managers

Bill Text

HB 99 2026

CODING: Words stricken are deletions; words underlined are additions.
hb99-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to reinsurance intermediary managers; 2
amending s. 626.7492, F.S.; revising the definition of 3
the term "controlling person" to make technical 4
changes and the term "reinsurance intermediary 5
manager" to exclude certain underwriting managers; 6
reenacting s. 626.022(1)(a), F.S., relating to scope 7
of part, to incorporate the amendment made to s. 8
626.7492, F.S., in a reference thereto; providing an 9
effective date. 10
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Be It Enacted by the Legislature of the State of Florida: 12
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Section 1. Paragraphs (b) and (g) of subsection (2) of 14
section 626.7492, Florida Statutes, are amended to read: 15
626.7492 Reinsurance intermediaries.— 16
(2) DEFINITIONS.—As used in this section: 17
(b) "Controlling person" means having the direct or 18
indirect power, as a any person, firm, association, or 19
corporation, who directly or indirectly has the power to direct 20
or cause to be directed, the management, control, or activities 21
of the reinsurance intermediary. 22
(g) "Reinsurance intermediary manager" means any person 23
who has authority to bind, or manages all or part of, the 24
assumed reinsurance business of a reinsurer, including the 25

HB 99 2026

CODING: Words stricken are deletions; words underlined are additions.
hb99-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

management of a separate division, department, or underwriting 26
office, and acts as a representative for the reinsurer whether 27
known as a reinsurance intermediary manager, manager, or other 28
similar term. Notwithstanding the above, none of the following 29
persons is a reinsurance intermediary manager with respect to 30
the reinsurer for the purposes of this section: 31
1. An employee of the reinsurer; 32
2. A manager of the United States branch of an alien 33
reinsurer; 34
3. An underwriting manager which, pursuant to contract, 35
manages all the reinsurance operations of the reinsurer, is 36
under common control with the reinsurer, subject to the holding 37
company act, and whose compensation is not based on the volume 38
of premiums written. 39
4. The manager of a group, association, pool, or 40
organization of insurers which engage in joint underwriting or 41
joint reinsurance and who are subject to examination by the 42
insurance regulatory authority of the state in which the 43
manager's principal business office is located. 44
5. An underwriting manager which manages assumed 45
facultative risks for a reinsurer if the facultative reinsurance 46
business managed by the underwriting manager is less than 10 47
percent of the assumed annual gross written premium of the 48
reinsurer. 49
Section 2. For the purpose of incorporating the amendment 50

HB 99 2026

CODING: Words stricken are deletions; words underlined are additions.
hb99-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

made by this act to section 626.7492, Florida Statutes, in a 51
reference thereto, paragraph (a) of subsection (1) of section 52
626.022, Florida Statutes, is reenacted to read: 53
626.022 Scope of part.— 54
(1) This part applies as to insurance agents, service 55
representatives, adjusters, and insurance agencies; as to any 56
and all kinds of insurance; and as to stock insurers, mutual 57
insurers, reciprocal insurers, and all other types of insurers, 58
except that: 59
(a) It does not apply as to reinsurance, except that ss. 60
626.011-626.022, ss. 626.112-626.181, ss. 626.191-626.211, ss. 61
626.291-626.301, s. 626.331, ss. 626.342-626.511, ss. 626.541-62
626.591, and ss. 626.601-626.711 shall apply as to reinsurance 63
intermediaries as defined in s. 626.7492. 64
Section 3. This act shall take effect July 1, 2026. 65