Florida Statute 624.606 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 624
INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS

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624.606 “Surety insurance” defined.—

(1) “Surety insurance” includes:

(a) A contract bond, including a bid, payment, or maintenance bond, or a performance bond, which guarantees the execution of a contract other than a contract of indebtedness or other monetary obligation;

(b) An indemnity bond for the benefit of a public body, railroad, or charitable organization or a lost security or utility payment bond;

(c) Becoming surety on, or guaranteeing the performance of, any lawful contract where the bond is guaranteeing the execution of a contract other than a contract of indebtedness or other monetary obligation;

(d) Becoming surety on, or guaranteeing the performance of, bonds and undertakings required or permitted in a judicial proceeding or otherwise allowed by law, including surety bonds accepted by states and municipal authorities in lieu of deposits as security for the performance of insurance contracts;

(e) Fidelity insurance as defined in s. 624.6065 for the purposes of the Florida Insurance Code other than part XX of chapter 627; or

(f) Residual value insurance as defined in s. 624.6081.

(2) “Surety insurance” does not include:

(a) Mortgage guaranty insurance, as defined in s. 635.011;

(b) Financial guaranty insurance, as defined in s. 627.971; or

History.—s. 104, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 86, 809(1st), ch. 82-243; s. 3, ch. 88-87; ss. 184, 187, 188, ch. 91-108; s. 1, ch. 91-110; s. 4, ch. 91-429; s. 17, ch. 95-211.

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Amendments to 624.606

Annotations, Discussions, Cases:

Cases Citing Statute 624.606

Total Results: 3 | Sort by: Relevance | Newest First

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DADELAND DEPOT. v. St. Paul Fire & Marine, 945 So. 2d 1216 (Fla. 2006).

Cited 49 times | Published | Supreme Court of Florida | 31 Fla. L. Weekly Supp. 882, 2006 Fla. LEXIS 2953, 2006 WL 3741019

...(5) Surety."). Additionally, surety contracts are also included within Florida's Insurance Code as a type of insurance contract. See §§ 627.751.759, Fla. Stat. (1999). "Surety insurance" is defined in terms of a "contract bond" or "performance bond." See § 624.606(1)(a), Fla....

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Shannon R. Ginn Constr. Co. v. Reliance Ins., 51 F. Supp. 2d 1347 (S.D. Fla. 1999).

Cited 4 times | Published | District Court, S.D. Florida | 1999 U.S. Dist. LEXIS 11132, 1999 WL 360538

...actor in the business of entering into contracts of insurance or of annuity." § 624.03, Fla.Stat. (1997). [5] "Surety insurance" is defined, inter alia, as "[a] contract bond ... or a performance bond, which guarantees the execution of a contract." § 624.606, Fla.Stat....

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Fin. Indem. Co. v. Steele & Sons, Inc., 403 So. 2d 600 (Fla. 4th DCA 1981).

Cited 2 times | Published | Florida 4th District Court of Appeal

...ensation for the insured's or beneficiary's attorney prosecuting the suit in which the recovery is had. Additionally, Section 624.03, Florida Statutes (1979), defines an "insurer" to include "every person engaged as [an] indemnitor, [or] surety...." Section 624.606(2), Florida Statutes (1979), defines "surety insurance" as, inter alia, "[i]nsurance guaranteeing the performance of contracts, ......