Fla.'s 'Captive'-ating New Insurance Legislation

Law360, New York (May 14, 2012, 1:27 PM EDT) -- During the 2012 regular legislative session, the Florida Legislature[1] passed Committee Substitute for House Bill 1101, an omnibus insurance bill that contains many provisions relating to various types of insurance.

One of the important parts in this legislation is the section pertaining to captive insurance. On April 24, 2012, the bill was signed into law by Florida Gov. Rick Scott, and it takes effect on July 1, 2012.

Although Florida captive insurance legislation became effective in 1982, the law creates new and specific criteria and standards...
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