The purpose and effect of this rule is to adopt a revised worker’s compensation excess profits form, and revise definition of “Insurance Group” to mean insurers operating under common majority ownership, not common management.

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

Rule No.: RULE TITLE
69O-189.007: Insurer Experience Reporting - Excessive Profits, Workers' Compensation Insurance
PURPOSE AND EFFECT: The purpose and effect of this rule is to adopt a revised worker’s compensation excess profits form, and revise definition of “Insurance Group” to mean insurers operating under common majority ownership, not common management.
SUBJECT AREA TO BE ADDRESSED: Procedure, and form to be used, when reporting excessive profits for worker’s compensation insurance.
SPECIFIC AUTHORITY: 624.308(1), 627.215 FS.
LAW IMPLEMENTED: 624.307(1), 624.424(1)(c), 627.215 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: November 17, 2010, 9:00 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: Richard Koon, Property and Casualty Product Review, 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 DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Richard Koon, Property and Casualty Product Review, Office of Insurance Regulation, E-mail [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.