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

The company is the first international insurance company to takeadvantage of state law HB1087, which allows international carriers to insure foreignnationals while operating in Florida. Because these carriers willnot be insuring Florida residents, they remain under the regulatoryauthority of their country of domicile and do not have to file acertificate of authority application with the OIR. HB 1087 waspassed in the 2011 legislative session with significant backingfrom Florida's Insurance Commissioner Kevin McCarty.

“This announcement sends a signal to international insurancecarriers that Florida is open for business,” says McCarty. “ I ampleased to welcome Best Doctors to Florida and encourage othercompanies to take advantage of the opportunities created by thepassage of this recent legislation.”

According to its website, Best Doctors provides health carecoverage to 15 million people in 30 countries.