Foreign and Alien Bail Bond Insurers

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Burgess
Last action: 2026-03-06
Official status: Senate - Laid on Table, refer to HB 271 -SJ 673
Effective date: 2026-07-01

Plain English Breakdown

Checked against official source text during the last sync.

Rules for Foreign and Alien Bail Bond Insurers

This bill sets rules for foreign and alien bail bond insurers about reporting premiums to the Office of Insurance Regulation and keeping records.

What This Bill Does

Requires foreign and alien bail bond insurers to report net premiums after agent fees when filing financial statements with the Office of Insurance Regulation.
Specifies that reported direct written premiums must be at least 6.5% of total consideration received by agents for all bail bonds.
Requires insurers to keep detailed records of total considerations paid for all bail bonds they write.
Necessitates disclosure in annual financial statements about gross premiums, premium taxes, withheld agent fees, and surety line amounts.

Who It Names or Affects

Foreign and alien bail bond insurers operating in Florida.

Terms To Know

Office of Insurance Regulation: The agency responsible for regulating insurance companies in Florida, including the collection of financial statements from them.
Direct written premiums: Premiums earned directly by an insurer before deducting fees paid to agents or other intermediaries.

Limits and Unknowns

The bill does not specify penalties for non-compliance with the reporting and record-keeping requirements.
It is unclear how existing insurers will transition to comply with these new rules.

Bill History

2026-03-06 Senate
• Read 2nd time -SJ 673 • Substituted HB 271 -SJ 673 • Laid on Table, refer to HB 271 -SJ 673
2026-03-03 Senate
• Placed on Special Order Calendar, 03/06/26
2026-02-25 Senate
• Placed on Calendar, on 2nd reading
2026-02-24 Senate
• Favorable by- Rules; YEAS 23 NAYS 0
2026-02-19 Senate
• On Committee agenda-- Rules, 02/24/26, 12:00 pm, 412 Knott Building
2026-02-12 Senate
• Now in Rules
2026-02-11 Senate
• Favorable by Criminal Justice; YEAS 8 NAYS 0
2026-02-06 Senate
• On Committee agenda-- Criminal Justice, 02/11/26, 3:00 pm, 37 Senate Building
2026-01-14 Senate
• Now in Criminal Justice
2026-01-13 Senate
• Favorable by Banking and Insurance; YEAS 10 NAYS 0 • Introduced
2026-01-08 Senate
• On Committee agenda-- Banking and Insurance, 01/13/26, 4:00 pm, 412 Knott Building
2025-12-09 Senate
• Referred to Banking and Insurance; Criminal Justice; Rules
2025-11-21 Senate
• Filed

Official Summary Text

Foreign and Alien Bail Bond Insurers; Providing duties of certain foreign and alien bail bond insurers relating to reporting bail bond premiums to the Office of Insurance Regulation, keeping records of considerations paid for bail bonds written by the insurers, and disclosing certain information in the financial statements filed with the office, etc.

Current Bill Text

Read the full stored bill text

Florida Senate
-
2026

SB 642

By
Senator Burgess

23-01023-26 2026642__
1 A bill to be entitled
2 An act relating to foreign and alien bail bond
3 insurers; amending s. 624.4094, F.S.; providing duties
4 of certain foreign and alien bail bond insurers
5 relating to reporting bail bond premiums to the Office
6 of Insurance Regulation, keeping records of
7 considerations paid for bail bonds written by the
8 insurers, and disclosing certain information in the
9 financial statements filed with the office; providing
10 an effective date.
11
12 Be It Enacted by the Legislature of the State of Florida:
13
14 Section 1. Section 624.4094, Florida Statutes, is amended
15 to read:
16 624.4094 Bail bond premiums.—
17 (1) The Legislature finds that a significant portion of
18 bail bond premiums is retained by the licensed bail bond agents
19 or appointed managing general agents. For purposes of reporting
20 in financial statements required to be filed with the office
21 pursuant to s. 624.424, direct written premiums for bail bonds
22 by a domestic
, foreign, or alien
insurer
doing business
in this
23 state
must

shall
be reported net of any amounts retained by
24 licensed bail bond agents or appointed managing general agents.
25 However, in no case
may

shall
the direct written premiums for
26 bail bonds be less than 6.5 percent of the total consideration
27 received by the agent for all bail bonds written by the agent.
28 This subsection also applies to any determination of compliance
29 with s. 624.4095.
30 (2) Premiums assumed by a domestic
, foreign, or alien

31 insurer
must

shall
be reported consistent with subsections (1)
32 and (4) for purposes of filing financial statements with the
33 office.
34 (3) Each domestic
, foreign, or alien
bail bond insurer
35 shall keep complete and accurate records of the total
36 consideration paid for all bail bonds written by such insurer.
37 (4) Each domestic
, foreign, or alien
bail bond insurer
38 shall disclose the following information in the notes to the
39 financial statement in the insurer’s annual statement filed with
40 the office.
41 (a) The gross bail bond premiums written in each state by
42 agents for the company.
43 (b) The amount of premium taxes incurred by the company in
44 each state.
45 (c) Total consideration withheld by agents and not reported
46 as an expense by the insurer in financial statements filed with
47 the office.
48 (d) The amount of bail bond premium included on the surety
49 line of the annual statement filed with the office.
50 Section 2. This act shall take effect July 1, 2026.