HB 409

A bill to be entitled
2An act relating to alien insurers; amending s.
3624.402, F.S.; revising a provision exempting alien
4insurers from being required to obtain a certificate
5of authority; specifying that an alien insurer is
6exempt from having to obtain a certificate of
7authority if such insurer only engages in specified
8activities relating to the delivery of insurance
9policies or contracts to nonresident policy owners;
10revising the definition of the term "nonresident";
11providing an effective date.
13Be It Enacted by the Legislature of the State of Florida:
15     Section 1.  Paragraphs (a) and (b) of subsection (8) of
16section 624.402, Florida Statutes, are amended to read:
17     624.402  Exceptions, certificate of authority required.-A
18certificate of authority shall not be required of an insurer
19with respect to:
20     (8)(a)  An insurer domiciled outside the United States
21covering only persons who, at the time of issuance or renewal,
22are nonresidents of the United States if:
23     1.  The insurer only solicits, sells, or accepts
24applications for any insurance policies or contracts or any
25affiliated person as defined in s. 624.04 under common ownership
26or control with the insurer does not solicit, sell, or accept
27application for any insurance policy or contract to be delivered
28or issued for delivery to any nonresident policy owner person in
29any state;
30     2.  The insurer registers with the office via a letter of
31notification upon commencing business from this state;
32     3.  The insurer provides the following information, in
33English, to the office annually by March 1:
34     a.  The name of the insurer; the country of domicile; the
35address of the insurer's principal office and office in this
36state; the names of the owners of the insurer and their
37percentage of ownership; the names of the officers and directors
38of the insurer; the name, e-mail, and telephone number of a
39contact person for the insurer; and the number of individuals
40who are employed by the insurer or its affiliates in this state;
41     b.  The lines of insurance and types of products offered by
42the insurer;
43     c.  A statement from the applicable regulatory body of the
44insurer's domicile certifying that the insurer is licensed or
45registered for those lines of insurance and types of products in
46that domicile; and
47     d.  A copy of the filings required by the applicable
48regulatory body of the insurer's country of domicile in that
49country's official language or in English, if available;
50     4.  All certificates, policies, or contracts issued in this
51state showing coverage under the insurer's policy include the
52following statement in a contrasting color and at least 10-point
53type: "The policy providing your coverage and the insurer
54providing this policy have not been approved by the Florida
55Office of Insurance Regulation"; and
56     5.  In the event the insurer ceases to do business from
57this state, the insurer will provide written notification to the
58office within 30 days after cessation.
59     (b)  For purposes of this subsection, the term
60"nonresident" means either a trust or other entity organized and
61domiciled under the laws of a country other than the United
62States or a person who resides in and maintains a physical place
63of domicile in a country other than the United States, which he
64or she recognizes as and intends to maintain as his or her
65permanent home. A nonresident does not include an unauthorized
66immigrant present in the United States. Notwithstanding any
67other provision of law, it is conclusively presumed, for
68purposes of this subsection, that a person is a resident of the
69United States if such person has:
70     1.  Had his or her principal place of domicile in the
71United States for 180 days or more in the 365 days prior to
72issuance or renewal of the policy;
73     2.  Registered to vote in any state;
74     3.  Made a statement of domicile in any state; or
75     4.  Filed for homestead tax exemption on property in any
77     Section 2.  This act shall take effect July 1, 2012.

CODING: Words stricken are deletions; words underlined are additions.