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Florida Administrative Code (Last Updated: April 18, 2024) |
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69. Department of Financial Services |
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69L. Division of Workers' Compensation |
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69L-5. Rules For Self-Insurers Under The Workers' Compensation Act |
1Notwithstanding any other provisions of these Rules to the contrary, if a parent company that directly or indirectly owns 100% of a Current Self-Insurer, Former Self-Insurer or applicant for self-insurance elects to execute Form DFS-F2-SI-10 (Parental Guaranty and Corporate Resolution for Self-Insured Subsidiary Entity), effective 08/09, as incorporated by reference, then:
52(1) The Financial Statements of the parent company shall be used to apply the financial statement requirements of subsections 7169L-5.209(1) 72and 7369L-5.225(1), 74F.A.C.;
75(2) The Credit Rating of the parent company shall be used to determine the amount of the Security Deposit in accordance with rule 9869L-5.218, 99F.A.C.;
100(3) The Net Worth of the parent company shall be used to determine the excess insurance requirements in accordance with paragraph 12169L-5.219(1)(a), 122F.A.C.;
123(4) The Net Worth of the parent company shall be used to apply the Net Worth requirements in subsection 14269L-5.225(1), 143F.A.C.; and,
145(5) The Credit Rating of the parent company shall be used to apply the minimum requirements in paragraph 16369L-5.225(1)(b), 164F.A.C., and the initial security deposit requirements of paragraph 17369L-5.225(1)(e), 174F.A.C.
175(6) Copies of Form DFS-F2-SI-10 (Parental Guaranty and Corporate Resolution for Self-Insured Subsidiary Entity), effective 08/09, are available at the Division of Workers’ Compensation, Bureau of Monitoring and Audit, Self-Insurance Section, 2012 Capital Circle, S.E., Hartman Building, Tallahassee, FL 32399-4224.
215Rulemaking Authority 217440.38(1), 218(2), (3), 220440.385(6), 221440.591 FS. 223Law Implemented 225440.38(1), 226(2), (3), 228440.385(1), 229(3), (6) FS. History–New 3-9-10, Amended 5-13-14.
