The rules address the procedures applicable to Surplus Lines insurers and agents related to collection of taxes. This function is now governed by the Florida Surplus Lines Service Office.

 

DEPARTMENT OF FINANCIAL SERVICES

Residual Markets and Special Risk Pools

RULE NOS.:RULE TITLES:

69P-5.002Private Passenger Automobile Physical Damage Insurance

69P-5.003Statement of Diligent Effort

69P-5.004Quarterly Report Required

69P-5.005Report and Tax of Independently Procured Coverages

69P-5.006Surplus Lines Insurers: Quarterly and Annual Reporting Requirements

69P-5.008Surplus Lines Surplus Requirement Election Form

69P-5.012Prohibitions

PURPOSE AND EFFECT: The rules address the procedures applicable to Surplus Lines insurers and agents related to collection of taxes. This function is now governed by the Florida Surplus Lines Service Office.

SUMMARY: The rules are now obsolete and should be repealed.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: Agency personnel familiar with the subject matter of the rule amendment have performed an economic analysis of the rule amendment that shows that the rule amendment is unlikely to have an adverse impact on the State economy in excess of the criteria established in Section 120.541(2)(a), Florida Statutes.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 624.308, 626.916(2), 626.918(2)(d)4

LAW IMPLEMENTED: 624.307(1), 626.621(7), 626.914, 626.915, 626.916, 626.924, 626.930, 626.913(2), 626.929(1), 626.938, 627.944(3), 627.949(1), 626.918627.736(1)

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW (IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):

DATE AND TIME: January 31, 2017 at 9:30 a.m.

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

Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Mary Mostoller Office of Insurance Regulation, E-mail [e-mail].. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Mary Mostoller Office of Insurance Regulation, E-mail [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69P-5.002 Private Passenger Automobile Physical Damage Insurance.

Rulemaking Specific Authority 624.308 FS. Law Implemented 624.307(1), 626.914(4), 626.916, 626.924, 626.930 FS. History–New 3-10-92, Formerly 4-11.003, 4J-5.002, Repealed___________.

 

69P-5.003 Statement of Diligent Effort.

Rulemaking Specific Authority 624.308, 626.916(2) FS. Law Implemented 624.307(1), 626.913(2), 626.916(1)(a), 626.930(1) FS. History–New 10-1-91, Formerly 4-11.005, Amended 8-28-94, Formerly 4J-5.003, Repealed______________.

 

69P-5.004 Quarterly Report Required.

Rulemaking Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 626.914(4), 626.916(1), 626.929(1), 626.931 FS. History–New 5-15-90, Amended 4-1-91, Formerly 4-11.006, 4J-5.004, Repealed______________.

 

69P-5.005 Report and Tax of Independently Procured Coverages.

Rulemaking Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 626.938, 627.944(3), 627.949(1) FS. History–New 5-15-90, Formerly 4-11.007, 4J-5.005, Repealed_____________.

 

69P-5.006 Surplus Lines Insurers: Quarterly and Annual Reporting Requirements.

Rulemaking Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 626.916, 626.931 FS. History–New 6-12-94, Formerly 4J-5.006, Repealed___________.

 

69P-5.008 Surplus Lines Surplus Requirement Election Form.

Rulemaking Specific Authority 626.918(2)(d)4. FS. Law Implemented 626.918 FS. History–New 4-26-98, Formerly 4J-5.008, Repealed____________.

 

69P-5.012 Prohibitions.

Rulemaking Specific Authority 624.308 FS. Law Implemented 624.307(1), 626.621(7), 626.914, 626.915, 626.916, 627.736(1) FS. History–New 7-6-94, Formerly 4-176.012, 4J-5.012, Repealed__________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Mary Mostoller Office of Insurance Regulation, E-mail [e-mail].

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: THE FINANCIAL SERVICES COMMISSION

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: December 6, 2016