Florida Legislature Passes HB 883
Authorizing Protected Cell Captives

The Florida Legislature passed HB 883, which authorizes the state to allow protected cell captives to be formed in Florida. Generally, the measure is designed to update Florida statutes by providing businesses interested in forming captive insurance companies greater flexibility through the use of a protected cell structure.

If signed by the Governor, the bill will take effect on July 1, 2026.

The bill provides oversight by the Florida Office of Insurance Regulation (OIR) for protected cell captives and establishes capital and surplus requirements for different types of captive insurance structures. The statute also provides for the identification and segregation of assets and liabilities of individual protected cells from the general accounts of a captive insurer, as well as allowing for the creation, merger, disaffiliation, and conversion of captives under the updated statute. The complete text of the bill can be located on the Senate’s webpage: https://www.flsenate.gov/Session/Bill/2026/883/BillText/er/PDF.

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