627.949 Restrictions on insurance purchased by purchasing groups.
627.949 Restrictions on insurance purchased by purchasing groups.
(1) In order to purchase insurance or coverage for a risk located in this state, which risk is a subject of insurance of a member of the purchasing group, a purchasing group shall only purchase insurance or coverage from:
(a) A risk retention group that is certificated or licensed in one of the states of the United States;
(b) An authorized insurer; or
(c) An eligible surplus lines insurer.
(2) A purchasing group shall utilize an agent licensed and appointed in this state in order to solicit, transact, or purchase insurance or coverage for a risk located in this state, which risk is a subject of insurance of a member of the purchasing group.
History. ss. 2, 5, ch. 87-282; s. 134, ch. 91-108; s. 114, ch. 92-318.