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Bermuda-based Best Doctors Insurance Ltd. has received approval from the Florida Office of Insurance Regulation (OIR) to operate as an offshore insurer. The company will operate out of offices in Miami and offer insurance to residents from countries in Central and South America.

The company is the first international insurance company to take advantage of state law HB 1087, which allows international carriers to insure foreign nationals while operating in Florida. Because these carriers will not be insuring Florida residents, they remain under the regulatory authority of their country of domicile and do not have to file a certificate of authority application with the OIR. HB 1087 was passed in the 2011 legislative session with significant backing from Florida’s Insurance Commissioner Kevin McCarty.

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