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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-138. Financial Examinations And Requirements |
1(1) This rule implements the provisions of Section 9625.012(5), 10Florida Statutes, and applies to all authorized insurers as defined in Section 22624.09, 23Florida Statutes.
25(2) All agents’ balances shall be aged on a separate policy by policy basis.
39(3) For purposes of determining the admissibility as an asset of agents’ balances, the policy inception date, defined as the time when the insurance thereunder takes effect, is the first day of the 90 days in which the agents’ balances must be collected or be considered past due.
87(4) Any agents’ balance in excess of 90 days shall not be reflected as an admitted asset on the company’s financial statement.
109Specific Authority 111624.308 FS. 113Law Implemented 115624.307(1), 116625.012(5) FS. 118History–New 6-15-92, Formerly 4-138.024.
