This bill amends Section 624.4094 of the Florida Statutes to establish new reporting and record-keeping requirements for foreign and alien bail bond insurers. The legislation mandates that these insurers report bail bond premiums net of amounts retained by licensed bail bond agents or appointed managing general agents. It specifies that the direct written premiums for bail bonds must not be less than 6.5 percent of the total consideration received by the agent for all bail bonds written. Additionally, the bill requires that each domestic, foreign, or alien bail bond insurer maintain accurate records of total considerations paid for all bail bonds and disclose specific financial information in their annual statements filed with the Office of Insurance Regulation.

The bill introduces the terms "foreign" and "alien" to the existing legal framework, ensuring that these categories of insurers are subject to the same reporting and record-keeping obligations as domestic insurers. The required disclosures include gross bail bond premiums written in each state, premium taxes incurred, total consideration withheld by agents, and the amount of bail bond premium reported on the surety line of the annual statement. The act is set to take effect on July 1, 2026.

Statutes affected:
H 271 Filed: 624.4094