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SB0394

Changes to Rules for Reinsurance Intermediary Managers

Last scannedAug 24, 2026, 10:35 AM

In one sentence

This law updates the definition of a reinsurance intermediary manager and clarifies who counts as having control over these managers.

Defines 'controlling person' as anyone with direct or indirect power to manage, control, or direct the activities of a reinsurance intermediary.
Revises the definition of 'reinsurance intermediary manager' to list specific groups that are not included in this category.
Exempts employees of reinsurers from being classified as reinsurance intermediary managers.
Removes certain underwriting managers from the definition if they manage all operations, share common control with the reinsurer, and do not get paid based on premium volume.
Updates a separate law section to ensure it correctly references these new definitions.

Reinsurance intermediaries operating in Florida
Underwriting managers who handle reinsurance business for reinsurers
Employees of insurance companies that sell or manage risk (reinsurers)
Managers of groups, associations, pools, or organizations doing joint underwriting

The law does not explain how regulators will check if a person meets the new 'controlling' definition.
It is unclear from this text what specific penalties exist for breaking these rules, as it only changes definitions.
The bill does not state whether existing contracts must be changed to match the new definitions.

Plain language

Reinsurance intermediary manager: A person who manages reinsurance business for a reinsurer and can bind contracts on their behalf.
Controlling person: Any individual or group with the power to direct how a reinsurance intermediary is managed.

Official record

Source attached

Reinsurance Intermediary Managers

Official activity