Rules 69O-201.008, and .012, F.A.C., are being amended to update forms OIR-C1-480, “Application for Certificate of Authority Legal Expense Insurance,” OIR-A3-478, “Legal Expense Insurance Corporation Surety Bond,” OIR-A3-1077, ....

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-201.008Application for Certificate Authority and Annual Renewal

69O-201.012Annual Statement and Quarterly Statements

PURPOSE AND EFFECT: Rules 69O-201.008, and .012, F.A.C., are being amended to update forms OIR-C1-480, “Application for Certificate of Authority Legal Expense Insurance,” OIR-A3-478, “Legal Expense Insurance Corporation Surety Bond,” OIR-A3-1077, “Application for Renewal of Certificate of Authority Legal Expense Insurance,” OIR-A3-479 “Annual Statement Legal Expense Insurance Corporation,” and OIR-A3-481, “Quarterly Statement.” These changes remove the invoices from these forms which are no longer needed due to changes in payment processing, improve formatting, update instructions, correct typographical errors, and update addresses.

Form OIR-C1-995, “List of Proposed Sales Representatives,” is being repealed as unnecessary.

Cross references to Rule 69O-136.100, F.A.C. are being added to show where forms OIR-C1-144, OIR-C1-905, OIR-C1-938, OIR-C1-1423, and OIR-C1-2221 are incorporated by reference. In addition, cross references to Forms OIR-C1-0500, OIR-C1-0501, OIR-C1-502, OIR-C1-0503, OIR-C1-0504, OIR-C1-505, OIR-C1-0506, and OIR-C1-0507, which are new biographical information supplementary forms adopted from NAIC are added.

SUMMARY: Rules 69O-201.008, and .012, F.A.C., are being amended to update forms OIR-C1-480, “Application for Certificate of Authority Legal Expense Insurance,” OIR-A3-478, “Legal Expense Insurance Corporation Surety Bond,” OIR-A3-1077, “Application for Renewal of Certificate of Authority Legal Expense Insurance,” OIR-A3-479 “Annual Statement Legal Expense Insurance Corporation,” and OIR-A3-481, “Quarterly Statement.” These changes remove the invoices from these forms which are no longer needed due to changes in payment processing, improve formatting, update instructions, correct typographical errors, and update addresses.

Form OIR-C1-995, “List of Proposed Sales Representatives,” is being repealed as unnecessary.

Cross references to Rule 69O-136.100, F.A.C. are being added to show where forms OIR-C1-144, OIR-C1-905, OIR-C1-938, OIR-C1-1423, and OIR-C1-2221 are incorporated by reference. In addition, cross references to Forms OIR-C1-0500, OIR-C1-0501, OIR-C1-502, OIR-C1-0503, OIR-C1-0504, OIR-C1-505, OIR-C1-0506, and OIR-C1-0507, which are new biographical information supplementary forms adopted from NAIC are added.

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.

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(1), 642.021(2), F.S.

LAW IMPLEMENTED: 624.416, 624.404, 624.424, 642.019, 642.021, 642.0301, 642.032, F.S.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Kama Monroe, Assistant General Counsel, Office of Insurance Regulation, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-201.008 Application for Certificate Authority and Annual Renewal.

(1) Application for Certificate of Authority as a Legal Expense Insurance Corporation.

(a) An application for a person applying for a certificate of authority as a legal expense insurance corporation consists of the following:

1. Form OIR-C1-480, “Application for Certificate of Authority Legal Expense Insurance,” effective 07/23 3/21, available at http://www.flrules.org/Gateway/_______ http://www.flrules.org/Gateway/reference.asp?No=Ref-13020;

2. Form OIR-A3-478, “Legal Expense Insurance Corporation Surety Bond,” effective 07/23 6/20, available at http://www.flrules.org/Gateway/_______ http://www.flrules.org/Gateway/reference.asp?No=Ref-13014;

3. Form OIR-C1-144, “Service of Process Consent & Agreement,” effective 6/04, hereby incorporated by reference in Rule 69O-136.100, F.A.C.; and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13019;

4. Form OIR-C1-905, “Instructions for Furnishing Background Investigative Reports,” effective 6/20, hereby incorporated by reference in Rule 69O-136.100, F.A.C.;  and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13021;

5. Form OIR-C1-938, “Fingerprint Payment and Submission Procedures,” effective 6/20, hereby incorporated by reference in Rule 69O-136.100, F.A.C.; and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13022;

6. Form OIR-C1-995, “List of Proposed Sales Representatives,” effective 10/05, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13023;

6. 7. Form OIR-C1-1423, incorporated by reference in Rule 69O-136.100, F.A.C.;

7. Form OIR-C1-0500, incorporated by reference in Rule 69O-136.100, F.A.C.;

8. Form OIR-C1-0501, incorporated by reference in Rule 69O-136.100, F.A.C.;

9. Form OIR-C1-0502, incorporated by reference in Rule 69O-136.100, F.A.C.;

10. Form OIR-C1-0503, incorporated by reference in Rule 69O-136.100, F.A.C.;

11. Form OIR-C1-0504, incorporated by reference in Rule 69O-136.100, F.A.C.;

12. Form OIR-C1-0505, incorporated by reference in Rule 69O-136.100, F.A.C.;

13. Form OIR-C1-0506, incorporated by reference in Rule 69O-136.100, F.A.C.;

14. Form OIR-C1-0507, incorporated by reference in Rule 69O-136.100, F.A.C.; “Biographical Affidavit,” effective 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13024; and

15. 8. Form OIR-C1-2221, “Management Information Form,” effective 6/20, hereby incorporated by reference in Rule 69O-136.100, F.A.C.;  and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-13025;

(b) A person applying for a certificate of authority as a legal expense insurance corporation shall submit forms listed in paragraph (1)(a) as directed by the Office electronically at https://www.floir.com/iportal.

(2) Annual Renewal

(a)1. A legal expense insurance corporation’s certificate of authority shall continue in force as long as the legal expense insurance corporation is in compliance with the provisions of Chapter 642, F.S.

2. Failure to submit the application for continuance by June 1 shall result in expiration of the certificate of authority and will require the filing of a new application for licensure.

(b) The qualified certificate of authority holder seeking to continue operating as a legal expense insurance corporation shall submit Form OIR-A3-1077, “Application for License Continuance Renewal of Certificate of Authority Legal Expense Insurance,” effective 07/23 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/____, http://www.flrules.org/Gateway/reference.asp?No=Ref-13018, at https://www.floir.com/iportal; and

(c) The legal expense insurance corporation shall honor those contracts in force until the date of expiration or the date of cancellation and a refund is made to the consumer.

Rulemaking Authority 624.308(1), 642.021(2) FS. Law Implemented 624.404, 642.019, 642.021, 642.032 FS. History–New 6-23-92, Formerly 4-201.008, Amended 5-25-21, _____.

 

69O-201.012 Annual Statement and Quarterly Statements.

(1)(a) An Annual Statement and a $100 filing fee shall be filed with the Office, on or before March 1 of each year on Form OIR-A3-479, “Annual Statement Legal Expense Insurance Corporation,” effective 07/23 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/ http://www.flrules.org/Gateway/reference.asp?No=Ref-13015.

(b) If the Annual Statement does not include all information requested in the format provided, it will not be deemed filed until all deficiencies are corrected.

(2) No Change

(3)(a) Quarterly Statements shall be filed with the Office, on Form OIR-A3-481, “Quarterly Statement,” effective 07/23 6/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/ http://www.flrules.org/Gateway/reference.asp?No=Ref-13017.

(b) If the Quarterly Statement does not include all information requested in the format provided, it will not be deemed filed until all deficiencies are corrected.

(4) – (6) No Change

Rulemaking Authority 624.308(1) FS. Law Implemented 624.416, 624.424, 642.0301, 642.032 FS. History–New 6-23-92, Formerly 4-201.012, Amended 7-30-17, 5-25-21, ______.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Kama Monroe, Assistant General Counsel

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 18, 2023

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 24, 2023