Florida H0883 regulates protected cell captive insurance companies, detailing their formation, operation, and legal protections.
Florida H0883 amends the state's insurance laws to regulate protected cell captive insurance companies. These companies can only insure the risks of their protected cell participants and must maintain separate assets and liabilities for each cell. The bill outlines specific requirements for protected cell formation, including the need for separate accounting and identification. It also details the conditions under which protected cells can be converted, merged, or disaffiliated, and specifies the assets and liabilities that must be maintained or transferred during such changes.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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