The bill amends section 627.944 of the Florida Statutes to clarify the status of risk retention groups that are registered to do business in Florida. It specifies that these groups are considered insurance companies authorized to operate within the state. This change aims to provide clearer regulatory guidance for risk retention groups, ensuring they adhere to Florida's insurance laws.

The new legal language added to the statute includes a specific provision stating that a risk retention group registered in Florida is recognized as an authorized insurance company. This amendment is set to take effect on July 1, 2026.