Florida SB 642: Cabinet Meetings

Bill Text

642 
Foreign and Alien Bail Bond Insurers 
2025-11-21T04:48:42Z 
Providing duties of certain foreign and alien bail bond insurers relating to reporting bail bond premiums to the Office of Insurance Regulation, keeping records of considerations paid for bail bonds written by the insurers, and disclosing certain information in the financial statements filed with the office, etc. 
Original Filed Version 
2026 
S 
2026-07-01T00:00:00Z 
GB 
General Bill 
__ 

 Florida Senate - 2026 SB 642 

 By Senator Burgess 

 23-01023-26 2026642__ 
 1 A bill to be entitled 
 2 An act relating to foreign and alien bail bond 
 3 insurers; amending s. 624.4094, F.S.; providing duties 
 4 of certain foreign and alien bail bond insurers 
 5 relating to reporting bail bond premiums to the Office 
 6 of Insurance Regulation, keeping records of 
 7 considerations paid for bail bonds written by the 
 8 insurers, and disclosing certain information in the 
 9 financial statements filed with the office; providing 
 10 an effective date. 
 11 
 12 Be It Enacted by the Legislature of the State of Florida: 
 13 
 14 Section 1. Section 624.4094, Florida Statutes, is amended 
 15 to read: 
 16 624.4094 Bail bond premiums.— 
 17 (1) The Legislature finds that a significant portion of 
 18 bail bond premiums is retained by the licensed bail bond agents 
 19 or appointed managing general agents. For purposes of reporting 
 20 in financial statements required to be filed with the office 
 21 pursuant to s. 624.424, direct written premiums for bail bonds 
 22 by a domestic, foreign, or alien insurer doing business in this 
 23 state must shall be reported net of any amounts retained by 
 24 licensed bail bond agents or appointed managing general agents. 
 25 However, in no case may shall the direct written premiums for 
 26 bail bonds be less than 6.5 percent of the total consideration 
 27 received by the agent for all bail bonds written by the agent. 
 28 This subsection also applies to any determination of compliance 
 29 with s. 624.4095. 
 30 (2) Premiums assumed by a domestic, foreign, or alien 
 31 insurer must shall be reported consistent with subsections (1) 
 32 and (4) for purposes of filing financial statements with the 
 33 office. 
 34 (3) Each domestic, foreign, or alien bail bond insurer 
 35 shall keep complete and accurate records of the total 
 36 consideration paid for all bail bonds written by such insurer. 
 37 (4) Each domestic, foreign, or alien bail bond insurer 
 38 shall disclose the following information in the notes to the 
 39 financial statement in the insurer’s annual statement filed with 
 40 the office. 
 41 (a) The gross bail bond premiums written in each state by 
 42 agents for the company. 
 43 (b) The amount of premium taxes incurred by the company in 
 44 each state. 
 45 (c) Total consideration withheld by agents and not reported 
 46 as an expense by the insurer in financial statements filed with 
 47 the office. 
 48 (d) The amount of bail bond premium included on the surety 
 49 line of the annual statement filed with the office. 
 50 Section 2. This act shall take effect July 1, 2026.