Florida becomes newest state to allow formation of captive insurance companies

Total
0
Shares

 

Florida Gov. Rick Scott on Tuesday signed into law a measure allowing the formation of captive insurance companies in the state.

The measure, H.B. 1101, allows the formation of single-parent captives, special-purpose captives, industrial insurance captives and captive reinsurance companies.

Captives licensed in Florida will be required to hold at least one annual board meeting in the state and appoint a registered resident agent to act on their behalf in Florida. Captives and captive reinsurance companies must pay a $1,500 application fee and a $1,000…

Click Here for the Full Article

close

Subscribe for PEO industry insights delivered to your inbox!

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.