Net worth required to maintain certificate of authority
Known as the Legal Expense Insurance Act
The act spans §§ 642–642 (31 sections).
History.--ss. 4, 7, ch. 93-147; s. 83, ch. 2000-158.
To maintain a certificate of authority to transact legal expense insurance, a legal expense insurance corporation must maintain a net worth of not less than the greater of:
(1) Ten thousand dollars; or
(2) Ten percent of the insurer’s total liabilities.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.