FL S0394

Redefines "controlling" to mean having direct or indirect power as a person, firm, association, or corporation to direct the management, control, or activities of a reinsurance intermediary

Adds a new exemption from the definition of "reinsurance intermediary manager" for underwriting managers who manage assumed facultative risks for a reinsurer, provided the facultative reinsurance business is less than 10% of the reinsurer's assumed annual gross written premium

Clarifies existing exemptions for employees of reinsurers, managers of U.S. branches of alien reinsurers, underwriting managers under common control with reinsurers, and managers of joint underwriting groups

Reenacts section 626.022(1)(a), F.S., to incorporate the amendments made to the reinsurance intermediary definitions

Takes effect July 1, 2026