Risk Retention Groups

Plain English Breakdown

The official source material does not provide details about the regulation of risk retention groups beyond stating compliance with state law.

Risk Retention Groups Law

This law specifies that risk retention groups registered to work in Florida are considered insurance companies and can operate within the state.

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 do business in the state.

Who It Names or Affects

• Risk retention groups

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 does not provide details on how risk retention groups will be regulated beyond stating they must follow Florida's laws.
• It is unclear what specific impacts this change might have on existing insurance companies in Florida.

Official Summary Text

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

Current Bill Text

Florida Senate
-
2026

SB 836

By
Senator DiCeglie

18-01447-26 2026836__
1 A bill to be entitled
2 An act relating to risk retention groups; amending s.
3 627.944, F.S.; specifying that risk retention groups
4 registered to do business in this state are insurance
5 companies authorized to do business in this state;
6 providing an effective date.
7
8 Be It Enacted by the Legislature of the State of Florida:
9
10 Section 1. Subsection (13) is added to section 627.944,
11 Florida Statutes, to read:
12 627.944 Risk retention groups not certificated in this
13 state.—Risk retention groups certificated or licensed in states
14 other than this state and seeking to do business as a risk
15 retention group in this state must observe and abide by the laws
16 of this state as follows:
17
(13) AUTHORIZATION.—A risk retention group registered to do

18
business in this state pursuant to this section is an insurance

19
company authorized to do business in this state
.

20 Section 2. This act shall take effect July 1, 2026.