FL H1191

Revises definition of "industrial insured" to require annual premiums of at least $200,000 per line of insurance, or at least $75,000 for coverage lines exceeding $25 million in annual aggregate.

Prohibits industrial insured captive insurance companies from insuring risks other than those of industrial insureds who are stockholders or members and their affiliates.

Authorizes industrial insured captive insurance companies with at least $20 million in unencumbered capital and surplus to provide workers' compensation and employer's liability insurance in excess of $25 million annually, requiring maintenance of $20 million minimum capital to continue writing such coverage.

Requires pure captive insurance companies to submit risk management standards for controlled unaffiliated businesses to the Office of Insurance Regulation for approval.

Makes terminology changes throughout chapter 628 substituting "insurance company" for "insurer" and specifies various duties as the responsibility of the Office of Insurance Regulation; effective July 1, 2013.