Welcome to the
Office of Insurance Regulation
Company Admissions
Frequently Asked Questions
Q1. What sections of the Florida Statutes govern Property & Casualty, Life
& Health, Managed Care and Specialty insurers and other related entities?
Property & Casualty
Life and Health
Managed Care
Specialty
Q2. How long does it take
to receive an insurance company
or other related entity license to conduct business in
the State of Florida?
A: Incomplete applications are
the single most common cause of
licensing delays. After an
application is accepted, and
considered to be complete,
we strive to conclude the review
process within 60
days.
Q3. What steps can I take to
avoid processing delays?
A: When submitting the initial
application, make sure
each Interrogatory, Component
and/or Checklist item has been
answered or otherwise addressed,
and all attachments provided.
Be sure that every question
on the biographical statement
has been answered. Enter “N/A”
if the question is not
applicable or “none” where
appropriate. On question 1
of the biographical statement,
provide the full given birth
name of the person for whom the
biographical statement is being
completed (initials are not
acceptable). Note, as part
of the review process,
information provided on the
biographical affidavit is
compared with information
provided by the background
investigation agency and results
of fingerprint card submissions.
Discrepancies will require
explanation.
During the review of the filing,
provide prompt and thorough
responses to the Office's
requests for additional
information or clarification.
Q4: What are the filing
fees for insurers in the State
of Florida?
A: Information regarding filing
fees can be found in
Section 624.501,
Florida Statutes.
Q5: How much money is required
to start an insurance company?
A: The amount typically ranges
from $2.5 to $5 million
depending on the type of
company. Amounts may increase
based on elements of an
insurer’s business plan. For additional information,
refer to
Section 624.407,
Florida Statutes.
Q6: Does the State of Florida
have a deadline as to when
applications may be filed?
A: No. The Office of Insurance
Regulation accepts applications
all twelve months of the year. However, no business should be
conducted until the application
is approved.
Q7: How does a foreign insurer
become authorized to conduct
business in Florida?
A: Complete the
UCAA Expansion
Application Package.
Q8: What does my company need to
do in order to add a line of
business to its Certificate of
Authority?
A: Complete the appropriate
sections of the
UCAA Corporate
Amendments Package.
Q9: How do I file a name change
for my insurance company?
A: Complete the appropriate
sections of the
UCAA Corporate
Amendments Package.
Q10: Does Florida require
biographical affidavits and
background investigations?
A: Yes. Unless the application package excludes, each controlling person
of the applicant and parent
companies, including but not
limited to officers, directors,
controlling shareholders,
partners, and the like, must
file with the Office an
NAIC
Biographical Affidavit (UCAA
Form 11) and
cause to be submitted to the
Office a
background
investigation.
Q11: Does Florida require
fingerprints?
A: Yes. Unless the application package excludes, each person as determined in
Q10 above must file fingerprint
cards with the Office. If you
would like to order fingerprint
cards, email us at
appcoord@floir.com.
Florida residents have the
option of having their
fingerprints digitally scanned
rather than providing paper
fingerprint cards. Information
about digital scanning may be
found at
http://www.fldfsprints.com.
Q12: I haven’t received my
renewal Certificate of
Authority. How can I get it?
A: The Office does not mail
renewal Certificates of
Authority. Each company’s
authorized lines of business are
listed on the company's renewal invoice.
Q13: What are premium tax
requirements and how do I file
premium taxes?
A: For insurance companies holding a Certificate of Authority, premium taxes are collected
by the
Florida Department of
Revenue (Forms DR-907 (quarterly) and
DR-908 (annual)). If you
are in Florida, call
1.800.352.3671. If you are
outside Florida, call
850.488.6800. For other
entities and further details,
refer to
http://www.floir.com/OIR_Required_Filing_Reporting.aspx.
Q14: Are there other state
agency filing requirements?
A: Applicants may visit the
Office's website at
www.floir.com and view the
various filings, reporting
requirements and applicable
Florida Statutes and Florida
Administrative Code.
Q15: How do I submit my
application?
A: Applicants are required to
submit electronically through
the
Industry Portal and by
selecting iApply - Online
Company Admissions.
Other questions? Please
email our Office at
appcoord@floir.com.