Florida's Captive Insurance Market Gains Momentum with New Industry Association

Florida has taken a notable step toward expanding its role in the captive insurance landscape with the formation of the Florida Captive Insurance Association (FCIA). The organization plans to advocate for modernized captive regulations, strengthen legislative engagement, and establish Florida as a competitive domicile for businesses exploring self-insurance strategies.

Florida's captive statutes have historically trailed leading jurisdictions, but the FCIA aims to shift that narrative by pushing for regulatory updates, premium tax improvements, and processes that could make the state more attractive to both new and redomiciling captives. Early priorities include building a strong membership base across industries, engaging lawmakers, and fostering a collaborative dialogue with regulators to support a more efficient and business-friendly framework.

With Florida facing rising insurance costs, climate-driven property exposures, and tightening reinsurance markets, the FCIA's arrival comes at a pivotal moment. The association intends to promote risk management sophistication, support innovation—including parametric solutions and evolving cyber-physical risks—and increase understanding of captive structures among organizations of all sizes.

More detail on the FCIA's goals, legislative priorities, and upcoming initiatives is available for Captive Insurance Company Reports (CICR) subscribers.

IRMI Online Subscribers

Launch of Florida Captive Insurance Association Marks New Era

Vertafore ReferenceConnect Subscribers

Launch of Florida Captive Insurance Association Marks New Era