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Bill Summary · HB 99

Summary of HB 99: Reinsurance Intermediary Managers

Bill Number: HB 99
Introduced On: October 07, 2025
Current Status: Now in Insurance & Banking Subcommittee
Primary Sponsor: Gentry
Effective Date: July 1, 2026

Purpose and Intent

HB 99 aims to amend existing Florida statutes regarding reinsurance intermediary managers. The bill seeks to clarify definitions and exclusions related to the roles and responsibilities of these managers within the insurance industry. By refining these definitions, the bill intends to enhance regulatory clarity and ensure that the roles of various entities involved in reinsurance are well-defined.

Key Provisions

The bill proposes the following significant changes:

  1. Revised Definitions:

    • Controlling Person: The definition is updated to clarify that a controlling person is any individual or entity that has the power to direct the management or activities of a reinsurance intermediary.
    • Reinsurance Intermediary Manager: The definition is modified to specify that certain underwriting managers are excluded from being classified as reinsurance intermediary managers. This includes:
      • Employees of the reinsurer.
      • Managers of U.S. branches of alien reinsurers.
      • Underwriting managers who manage all reinsurance operations under common control with the reinsurer, provided their compensation is not based on the volume of premiums written.
      • Managers of groups or organizations of insurers engaged in joint underwriting or reinsurance, subject to state regulatory examination.
      • Underwriting managers managing facultative risks if such risks constitute less than 10% of the reinsurer's annual gross written premium.

  2. Incorporation of Amendments:

    • The bill reenacts section 626.022(1)(a) to incorporate the amendments made to section 626.7492, ensuring that the scope of regulations applies appropriately to reinsurance intermediaries.

Impact

The changes proposed in HB 99 primarily affect:

  • Reinsurance Intermediary Managers: By clarifying who qualifies as a reinsurance intermediary manager, the bill may impact how these entities operate and are regulated in Florida.
  • Insurance Companies: Insurers may need to adjust their management structures and compliance practices in response to the revised definitions and exclusions.
  • Regulatory Authorities: The bill provides clearer guidelines for regulatory bodies overseeing the insurance industry, potentially streamlining compliance and enforcement processes.

Procedural Timeline

  • October 07, 2025: Bill filed.
  • October 14, 2025: Referred to the Insurance & Banking Subcommittee and the Commerce Committee.
  • Current Status: The bill is now under consideration in the Insurance & Banking Subcommittee.

Conclusion

HB 99 seeks to refine the regulatory framework governing reinsurance intermediary managers in Florida. By clarifying definitions and exclusions, the bill aims to enhance the operational clarity for stakeholders in the insurance industry, ensuring that roles are well-defined and regulatory compliance is streamlined. The proposed effective date for these changes is July 1, 2026.

Compiled from official sources — confirm details with the bill’s official record.

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