Florida Statutes 628.9142 – Reinsurance; effect on reserves
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Terms Used In Florida Statutes 628.9142
- Captive insurance company: means a domestic insurer established under this part. See Florida Statutes 628.901
(1) A captive insurance company may provide reinsurance, as authorized in this part, on risks ceded by any other insurer.
(2) A captive insurance company may take credit for reserves on risks or portions of risks ceded to authorized insurers or reinsurers and unauthorized insurers or reinsurers complying with s. 624.610. A captive insurance company may not take credit for reserves on risks or portions of risks ceded to an unauthorized insurer or reinsurer if the insurer or reinsurer is not in compliance with s. 624.610.