2004 Florida Statutes
Application of part.
(1) This part shall apply to direct life insurance policies, health insurance policies, annuity contracts, and supplemental contracts with or without life contingencies issued by persons licensed to transact such insurance in this state.
(2) Coverage under this part shall be provided to:
(a) Persons who, regardless of where they reside, except for nonresident certificateholders under group policies or contracts, are the beneficiaries, assignees, or payees of the persons covered under paragraph (b); and
(b) Persons who are owners of or certificateholders under such policies or contracts, and who:
1. Are residents of this state; or
2. Are residents of other states, but only if:
a. The insurers which issued such policies or contracts are domiciled in this state;
b. Such insurers never held a license or certificate of authority in the states in which such persons reside;
c. Such other states have associations similar to the association created by this part; and
d. Such persons are not eligible for coverage by such associations.
(3) This part does not apply to:
(a) That portion or part of a variable life insurance contract or variable annuity contract not guaranteed by an insurer.
(b) That portion or part of any policy or contract under which the risk is borne by the policyholder.
(c) Any policy or contract or part thereof assumed by the impaired or insolvent insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued.
(d) Fraternal benefit societies as defined in s. 632.601
(e) Health maintenance insurance.
(f) Dental service plan insurance.
(g) Pharmaceutical service plan insurance.
(h) Optometric service plan insurance.
(i) Ambulance service association insurance.
(j) Preneed funeral merchandise or service contract insurance.
(k) Prepaid health clinic insurance.
(l) Any annuity contract or group annuity contract that is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed directly and not through an intermediary to an individual by an insurer under such contract or certificate. This paragraph applies to every insolvency regardless of its date of inception, and an assessment base may not include premiums for such excluded products.
(m) Any federal employees' group policy or contract that, under 5 U.S.C. s. 8909(f), is prohibited from being subject to an assessment under s. 631.718
(4) This part shall only apply to those delinquency proceedings occurring on or after October 1, 1979.
History.--ss. 3, 21, ch. 79-189; s. 809(1st), ch. 82-243; s. 4, ch. 85-321; s. 7, ch. 87-350; ss. 97, 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 3, ch. 95-213.