Florida Statutes Part V - Kinds Of Insurance; Limits Of Risk; Reinsurance (Ss. 624.601-624.610)

• 624.601 - Definitions Not Mutually Exclusive.
  It is intended that certain insurance coverages may come within the definitions of two or more kinds of insurance as defined in this part of...
• 624.6011 - “kinds Of Insurance” Defined.
  Insurance shall be classified into the following “kinds of insurance”:(1) Life.(2) Health.(3) Property.(4) Casualty.(5) Surety.(6) Marine.(7) Title.History.—ss. 38, 51, 70, ch. 89-360; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429.
• 624.6012 - “lines Of Insurance” Defined.
  Kinds of insurance shall be classified into “lines of insurance.” The commission shall adopt by rule the lines of insurance to be utilized. Such lines...
• 624.602 - “life Insurance,” “life Insurer” Defined.
  (1) “Life insurance” is insurance of human lives. The transaction of life insurance includes also the granting of annuity contracts, including, but not limited to, fixed...
• 624.603 - “health Insurance” Defined.
  “Health insurance,” also known as “disability insurance,” is insurance of human beings against bodily injury, disablement, or death by accident or accidental means, or the...
• 624.604 - “property Insurance” Defined.
  “Property insurance” is insurance on real or personal property of every kind and of every interest therein, whether on land, water, or in the air,...
• 624.605 - “casualty Insurance” Defined.
  (1) “Casualty insurance” includes:(a) Vehicle insurance.—Insurance against loss of or damage to any land vehicle or aircraft or any draft or riding animal, or to property while...
• 624.606 - “surety Insurance” Defined.
  (1) “Surety insurance” includes:(a) A contract bond, including a bid, payment, or maintenance bond, or a performance bond, which guarantees the execution of a contract other than...
• 624.6065 - “fidelity Insurance” Defined.
  For the purposes of part XX of chapter 627, the term “fidelity insurance” means:(1) Insurance guaranteeing the fidelity of persons holding positions of public or private...
• 624.607 - “marine Insurance,” “wet Marine And Transportation Insurance,” And “inland Marine Insurance” Defined.
  (1) “Marine insurance” includes:(a) Insurance against any kinds of loss or damage to:1. Vessels, craft, aircraft, cars, automobiles, and vehicles of every kind, as well as all goods,...
• 624.608 - “title Insurance” Defined.
  “Title insurance” is:(1) Insurance of owners of real property or others having an interest in real property or contractual interest derived therefrom, or liens or encumbrances...
• 624.6081 - “residual Value Insurance” Defined.
  For the purposes of part XX of chapter 627, the term “residual value insurance” means insurance issued in connection with a lease or contract which...
• 624.6085 - “collateral Protection Insurance” Defined.
  For purposes of ss. 215.555, 627.311, and 627.351, “collateral protection insurance” means commercial property insurance under which a creditor is the primary beneficiary and policyholder...
• 624.609 - Limit Of Risk.
  (1) No insurer shall retain any risk on any one subject of insurance, either as the direct insurer or the reinsurer, whether located or to be...
• 624.610 - Reinsurance.
  (1) The purpose of this section is to protect the interests of insureds, claimants, ceding insurers, assuming insurers, and the public. It is the intent of...

Last modified: September 23, 2016