FL H1235

Defines "qualified insured" as an insured with principal business in Florida and annual workers' compensation premium of at least $500,000.

Defines "qualified insurer" as an insurance company authorized in Florida with a combined loss ratio below 100 for the 2 preceding years, assets exceeding $500 million, and an A.M. Best rating of A+.

Requires qualified insurers' forms for qualified loss-sensitive reinsurance programs to be filed with the Office of Insurance Regulation for informational purposes but exempts them from the approval process.

Qualified loss-sensitive programs allow insureds to participate in underwriting profit or risk through separate reinsurance arrangements with admitted reinsurers and must include minimum and maximum loss participation limits.

Effective date is July 1, 2018.