FL H0661

Mortgage guaranty insurers must maintain minimum surplus of the greater of $4 million or 10 percent of total outstanding liabilities, with a maximum surplus requirement of $100 million.

Total outstanding aggregate exposure net of reinsurance cannot exceed 25 times the insurer's combined paid-in capital, surplus, and contingency reserve.

Commissioner of Insurance Regulation may grant temporary exceptions to the aggregate exposure requirement upon written request if the insurer's financial position is reasonable relative to its insured risk and financial needs.

Office of Insurance Regulation may take enforcement action against noncomplying insurers that have not been granted an exception, using the same authority available for violations of insurance capital standards.

Effective date: July 1, 2010.