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Florida Bill Would Boost International Insurance

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NU Online News Service, April 25, 2005, 10:40 a.m. EDT

The Florida state legislature has passed legislation aimed at making the state a center for international insurance sales.[@@]

The International Insurance Center Bill, passed by the Florida Senate and House of Representatives, has been sent to Gov. Jeb Bush, who is expected to sign it, according to the Beacon Council, a business group in Miami-Dade County.

The legislation would allow non-U.S. insurance companies to sell life insurance and annuities to non-U.S. residents in the state.

The Beacon Council estimates that 3 million foreign visitors come to Miami-Dade County annually.

If signed by Bush, the legislation would take effect July 1.