Annual Report Card, Definitions, Methodology, Limitations and Exclusions, Data Sources

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO: RULE TITLE
69O-236.001: Annual Report Card
69O-236.002: Definitions
69O-236.003: Methodology
69O-236.004: Limitations and Exclusions
69O-236.005: Data Sources

NOTICE OF CORRECTION

Notice is hereby given that the following correction has been made to the proposed rule in Vol. 35 No. 47, November 25, 2009 issue of the Florida Administrative Weekly.

The following corrections are being made to the notice of proposed rulemaking published on November 25, 2009, for what was labeled 69O-236.001 ANNUAL REPORT CARD.

1. The correct dates for the notices of rule development are July 2 and July 31, 2009.

2. The rule numbers and titles are corrected to read:

RULE NOS.:         RULE TITLES:

69M-236.001       Purpose

69M-236.002       Definitions

69M-236.003       Methodology

69M-236.004       Limitations and Exclusions

69M-236.005       Data Sources

The rule numbers are being changed from 69O to 69M because, pursuant to statute, these rules are being promulgated by the Financial Services Commission.

3. The PURPOSE AND EFFECT is corrected to read: To adopt the annual report card to be used by the Office of the Consumer Advocate, as required by Section 627.0613(4), F.S., and the procedures by which an insurer’s grade will be determined.

4. The SUMMARY is corrected to read: Section 627.0613(4), Florida Statutes, requires the Consumer Advocate’s office to prepare an annual report card for each authorized personal residential property (homeowners) insurer, on a form and using a letter-grade scale developed by the Commission. The rule being proposed sets out the procedure by which the insurers would be graded and adopts the form by which the results are presented.

5. The rule hearing scheduled in the notice was cancelled and a rule hearing will be held as follows:

DATE AND TIME: February 9, 2010, 9:30 a.m.

PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida

If you have special needs please contact Debra Seymour, Office of Insurance Regulation, E-mail [e-mail] five days before the hearing and she will assist you.

If there are any questions, please address them to Debra Seymour, Office of Insurance Regulation, E-mail [e-mail].