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

Key insertions in the bill include the terms "foreign" and "alien" to broaden the scope of the regulations to include these types of insurers alongside domestic ones. The bill also specifies that the financial statements must include details such as 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. The act is set to take effect on July 1, 2026.

Statutes affected:
H 271 Filed: 624.4094