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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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69O. OIR – Insurance Regulation |
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69O-137. Insurer Reporting Requirements |
69O-137.014. Notice of Temporary Discontinuance of Writing New Residential Property Insurance Policies
1(1) In addition to meeting all other requirements of law, each authorized insurer intending to temporarily suspend writing new residential property insurance policies must submit the required notification to the Office the earlier of:
35(a) 20 business days before the effective date of the temporary suspension of writing, or
50(b) 5 business days before notifying its agents of the temporary suspension of writing.
64(2) An authorized insurer is not required to provide notice of under paragraph (1) if the conditions of Section 624.4301(1)(a), F.S., are met and the temporary suspension is in response to:
95(a) a hurricane that may make landfall in this state, or
106(b) a declared state of emergency due to natural emergency as defined in 119252.34(8), F.S.
121(3) The required notification shall be submitted on Form OIR-A1-1500 (effective 7/23), entitled “Notice of Temporary Discontinuance of Writing New Residential Property Insurance Policies,” which is hereby incorporated by reference and available at 155http://www.flrules.org/Gateway/reference.asp?No=Ref-16186157. The form may be obtained from https://www.floir.com.
165(4) The notification shall be submitted via the Insurance Regulation Filing System (IRFS) application at https://irfs.fldfs.com/.
181Rulemaking Authority 183624.308(1), 184624.4301, F.S. Law Implemented 624.4301, F.S. History – New 1-3-24.
