Florida HB 1399: Child Psychological Abuse

Bill Text

HB 1399 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1399-00
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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 property insurance affiliates; 2
creating s. 624.44101, F.S.; providing applicability; 3
defining the term "affiliate"; requiring certain 4
property insurers to provide to the Office of 5
Insurance Regulation documentation demonstrating that 6
financial considerations and payments to affiliates 7
are fair and reasonable; requiring the office to 8
consider certain factors to determine whether such 9
considerations and payments are fair and reasonable; 10
requiring property insurers to submit, and the office 11
to review, audited financial statements; requiring 12
contracts between property insurers and affiliates to 13
contain certain provisions; authorizing the office to 14
issue orders restricting fund transfers from property 15
insurers to affiliates under specified circumstances; 16
providing penalties; requiring affiliates to make 17
certain refunds under certain circumstances; requiring 18
the office to adopt forms, processes, and rules; 19
creating s. 624.44102, F.S.; providing applicability; 20
providing a definition; providing authority of the 21
office over affiliate dividends; providing 22
restrictions on and prohibitions against dividends 23
paid by property insurers to affiliates under certain 24
circumstances; requiring property insurers to provide 25

HB 1399 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1399-00
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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

notice before pledges of capital and assets to 26
affiliates for loans and financial obligations; 27
providing penalties; requiring affiliates to make 28
certain refunds under certain circumstances; requiring 29
the office to adopt forms, processes, and rules; 30
creating s. 624.44103, F.S.; providing applicability; 31
providing a definition; requiring affiliates to 32
register with the office; specifying requirements to 33
obtain registration; requiring annual renewal; 34
providing administrative penalties; providing criminal 35
penalties; requiring the office to adopt forms, 36
processes, and rules; amending s. 627.062, F.S.; 37
revising factors and standards for the office 38
determination whether a property insurance rate filing 39
is excessive; providing effective dates. 40
41
Be It Enacted by the Legislature of the State of Florida: 42
43
Section 1. Section 624.44101, Florida Statutes, is created 44
to read: 45
624.44101 Oversight of affiliate transactions.— 46
(1) This section applies to insurers that issue property 47
insurance policies and their affiliates. 48
(2)(a) As used in this section, the term "affiliate" means 49
an entity that engages in the business of insurance and that 50

HB 1399 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1399-00
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exercises control over or is directly or indirectly controlled 51
by the insurer through: 52
1. Equity ownership of voting securities; 53
2. Common managerial control as defined in s. 624.10; or 54
3. Participation by the management of the insurer and the 55
affiliate in the management of the insurer or the affiliate. 56
(b) The term also includes an attorney in fact as defined 57
in s. 629.011 and a managing general agent as defined in s. 58
626.015. 59
(3)(a) Each property insurer doing business in this state 60
which pays, directly or indirectly, a fee, commission, or other 61
financial consideration or payment to any affiliate must provide 62
to the office documentation demonstrating that such fee, 63
commission, or other financial consideration or payment is fair 64
and reasonable. The office must determine whether the fee, 65
commission, or other financial consideration or payment is fair 66
and reasonable by considering the following factors: 67
1. The actual cost of each service provided by the 68
affiliate. 69
2. The relative financial condition of the property 70
insurer and the affiliate. 71
3. The level of debt and how that debt is serviced. 72
4. The amount of the dividends paid by the property 73
insurer and the affiliates and for what purpose. 74
5. Whether the terms of the written contract benefit the 75

HB 1399 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1399-00
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property insurer and are in the best interest of the 76
policyholders or subscribers. 77
6. Any other information as the office reasonably requires 78
in making the determination. 79
(b) For any contract with an affiliate executed on or 80
after July 1, 2026, the property insurer must annually provide 81
audited financial statements to the office which demonstrate any 82
fee, commission, or other financial consideration or payment 83
from the prop