624.40711 Restrictions on insurers that are wholly owned subsidiaries of insurers to do business in state.—Effective December 31, 2008, and notwithstanding any other provision of law:
(1) A new certificate of authority for the transaction of residential property insurance may not be issued to any insurer domiciled in this state that is a wholly owned subsidiary of an insurer authorized to do business in any other state.
(2) The rate filings of any insurer domiciled in this state that is a wholly owned subsidiary of an insurer authorized to do business in any other state shall include information relating to the profits of the parent company of the insurer domiciled in this state.
History.—s. 25, ch. 2007-90.
Section: Previous 624.401 624.402 624.4031 624.404 624.4055 624.406 624.407 624.40711 624.4073 624.408 624.4085 624.40851 624.4094 624.4095 624.410 NextLast modified: September 23, 2016