Risk Retention Groups

Plain English Breakdown

The bill did not pass and died in committee, so it has no effective date or current legal status.

Risk Retention Groups Law

This law specifies that risk retention groups registered to do business in Florida are considered insurance companies and can operate as such.

What This Bill Does

• Adds a new part to an existing law about risk retention groups.
• Specifies that risk retention groups registered in Florida are insurance companies authorized to work in the state.

Who It Names or Affects

• Risk retention groups that want to do business in Florida
• Insurance regulators and agencies in Florida

Terms To Know

risk retention group

A type of company that provides insurance for specific types of risks, often within a particular industry or profession.

Limits and Unknowns

• The bill did not pass all stages and died in the Insurance & Banking Subcommittee.
• It is unclear how many risk retention groups will be affected by this law.

Official Summary Text

Risk Retention Groups; Specifies that risk retention groups registered to do business in this state are insurance companies authorized to do business in this state.

Current Bill Text

HB 1163 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1163-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to risk retention groups; amending s. 2
627.944, F.S.; specifying that risk retention groups 3
registered to do business in this state are insurance 4
companies authorized to do business in this state; 5
providing an effective date. 6
7
Be It Enacted by the Legislature of the State of Florida: 8
9
Section 1. Subsection (13) is added to section 627.944, 10
Florida Statutes, to read: 11
627.944 Risk retention groups not certificated in this 12
state.—Risk retention groups certificated or licensed in states 13
other than this state and seeking to do business as a risk 14
retention group in this state must observe and abide by the laws 15
of this state as follows: 16
(13) AUTHORIZATION.—A risk retention group registered to 17
do business in this state pursuant to this section is an 18
insurance company authorized to do business in this state. 19
Section 2. This act shall take effect July 1, 2026. 20