Florida Statutes Part I - Assets And Liabilities (Ss. 625.01115-625.181)

• 625.01115 - Definitions.
  As used in this chapter, the term “statutory accounting principles” means accounting principles as defined in the National Association of Insurance Commissioners Accounting Practices and...
• 625.012 - “assets” Defined.
  In any determination of the financial condition of an insurer, there shall be allowed as “assets” only such assets as are owned by the insurer...
• 625.031 - Assets Not Allowed.
  In addition to assets impliedly excluded by the provisions of s. 625.012, the following expressly shall not be allowed as assets in any determination of...
• 625.041 - Liabilities, In General.
  In any determination of the financial condition of an insurer, liabilities to be charged against its assets include:(1) The amount, estimated in accordance with this code,...
• 625.051 - Unearned Premium Reserve.
  (1) As to insurance against loss or damage to property, except as provided in s. 625.061, and as to all general casualty insurance and surety insurance,...
• 625.061 - Unearned Premium Reserve For Marine And Transportation Insurance.
  As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the office may require...
• 625.071 - Special Reserve For Bail And Judicial Bonds.
  In lieu of the unearned premium reserve required on surety bonds under s. 625.051, the office may require any surety insurer or limited surety insurer...
• 625.081 - Reserve For Health Insurance.
  For all health insurance policies, the insurer shall maintain an active life reserve which places a sound value on the insurer’s liabilities under such policies;...
• 625.091 - Losses And Loss Adjustment Expense Reserves; Liability Insurance And Workers’ Compensation Insurance.
  The reserve liabilities recorded in the insurer’s annual statement and financial statements for unpaid losses and loss adjustment expenses shall be the estimated value of...
• 625.101 - Increase Of Inadequate Loss Reserves.
  If loss experience shows that an insurer’s loss reserves, however computed or estimated, are inadequate, the office shall require the insurer to maintain loss reserves...
• 625.111 - Title Insurance Reserve.
  In addition to an adequate reserve as to outstanding losses relating to known claims as required under s. 625.041, a domestic title insurer shall establish,...
• 625.121 - Standard Valuation Law; Life Insurance.
  (1) SHORT TITLE.—This section shall be known as the “Standard Valuation Law.”(2) ANNUAL VALUATION.—The office shall annually value, or cause to be valued, the reserves for all...
• 625.1212 - Valuation Of Policies And Contracts Issued On Or After The Operative Date Of The Valuation Manual.
  (1) APPLICABILITY.—This section applies to life insurance contracts, accident and health insurance contracts, and deposit-type contracts issued on or after the operative date of the valuation...
• 625.1214 - Use Of Confidential Information.
  (1) Documents, reports, materials, and other information created, produced, or obtained pursuant to ss. 625.121 and 625.1212 are privileged, confidential, and exempt as provided in s....
• 625.141 - Valuation Of Bonds.
  (1) All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not...
• 625.151 - Valuation Of Other Securities.
  (1) Securities, other than those referred to in s. 625.141, held by an insurer shall be valued, in the discretion of the office, at their market...
• 625.161 - Valuation Of Property.
  (1) Real property owned by an insurer which is reported in financial statements filed with the office shall be valued at the lower of depreciated cost...
• 625.171 - Valuation Of Purchase Money Mortgages.
  Purchase money mortgages on real property referred to in s. 625.161(2) shall be valued in an amount not exceeding the acquisition cost to the insurer...
• 625.172 - Replacing Certain Assets; Reporting Certain Liabilities.
  (1) The office, upon determining that an insurer’s asset has not been evaluated according to applicable law or that it does not qualify as an asset,...
• 625.181 - Assets Received As Capital Or Surplus Contributions.
  Assets received by an insurer as a capital or surplus contribution shall, for purposes of this code, be deemed to be purchased by the insurer...

Last modified: September 23, 2016