Florida Senate - 2026                                     SB 642
       
       
        
       By Senator Burgess
       
       
       
       
       
       23-01023-26                                            2026642__
    1                        A bill to be entitled                      
    2         An act relating to foreign and alien bail bond
    3         insurers; amending s. 624.4094, F.S.; providing duties
    4         of certain foreign and alien bail bond insurers
    5         relating to reporting bail bond premiums to the Office
    6         of Insurance Regulation, keeping records of
    7         considerations paid for bail bonds written by the
    8         insurers, and disclosing certain information in the
    9         financial statements filed with the office; providing
   10         an effective date.
   11          
   12  Be It Enacted by the Legislature of the State of Florida:
   13  
   14         Section 1. Section 624.4094, Florida Statutes, is amended
   15  to read:
   16         624.4094 Bail bond premiums.—
   17         (1) The Legislature finds that a significant portion of
   18  bail bond premiums is retained by the licensed bail bond agents
   19  or appointed managing general agents. For purposes of reporting
   20  in financial statements required to be filed with the office
   21  pursuant to s. 624.424, direct written premiums for bail bonds
   22  by a domestic, foreign, or alien insurer doing business in this
   23  state must shall be reported net of any amounts retained by
   24  licensed bail bond agents or appointed managing general agents.
   25  However, in no case may shall the direct written premiums for
   26  bail bonds be less than 6.5 percent of the total consideration
   27  received by the agent for all bail bonds written by the agent.
   28  This subsection also applies to any determination of compliance
   29  with s. 624.4095.
   30         (2) Premiums assumed by a domestic, foreign, or alien
   31  insurer must shall be reported consistent with subsections (1)
   32  and (4) for purposes of filing financial statements with the
   33  office.
   34         (3) Each domestic, foreign, or alien bail bond insurer
   35  shall keep complete and accurate records of the total
   36  consideration paid for all bail bonds written by such insurer.
   37         (4) Each domestic, foreign, or alien bail bond insurer
   38  shall disclose the following information in the notes to the
   39  financial statement in the insurer’s annual statement filed with
   40  the office.
   41         (a) The gross bail bond premiums written in each state by
   42  agents for the company.
   43         (b) The amount of premium taxes incurred by the company in
   44  each state.
   45         (c) Total consideration withheld by agents and not reported
   46  as an expense by the insurer in financial statements filed with
   47  the office.
   48         (d) The amount of bail bond premium included on the surety
   49  line of the annual statement filed with the office.
   50         Section 2. This act shall take effect July 1, 2026.