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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-151. Requirements For Replacement Of Life And Health Coverage |
1Each existing insurer shall inform its responsible personnel of the requirements of these rules. Each existing insurer shall:
19(1) Within ten (10) days from the date it receives the Form OIR-B2-312, rev. 07/23,as adopted in Rule 3869B-151.010, 39F.A.C., furnish the policyowner, when requested a Form OIR-B2-313, rev. 07/23, as adopted in Rule 5469B-151.010, 55F.A.C., concerning the existing life insurance. The values shown on Form OIR-B2-313 rev. 07/23, as adopted in Rule 7369B-151.010, 74F.A.C.,shall be computed from the current policy year of the existing life insurance. Exemptions from compliance with the provisions of this section are set forth in Rule 10269O-151.004, 103F.A.C.
104(2) Maintain a file containing the following:
111(a) Copies of the Form OIR-B2-312, rev. 07/23, as adopted in Rule 12369B-151.010, 124F.A.C.,) received from replacing insurers; and,
131(b) Copies of the fully completed Form OIR-B2-313, rev. 07/23, as adopted in Rule 14569B-151.010, 146F.A.C., prepared pursuant to subsection 15169O-151.008(1), 152F.A.C.
153(3) This material shall be indexed by replacing insurer and held for three (3) years or until the conclusion of the next regular examination conducted by the Insurance Department of its domicile, whichever is later.
188Rulemaking 189Authority 190624.308, 191626.9611, 192626.9641 FS. 194Law Implemented 196624.307(1), 197626.9521, 198626.9541, 199626.9641 FS. 201History–New 7-9-81, Formerly 4-24.05, Amended 2-2-83, Formerly 4-24.17, 4-24.017, 4-151.008, Amended 1-4-24.
