Annual and Quarterly Reporting Requirements  

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    DEPARTMENT OF FINANCIAL SERVICES

    OIR – Insurance Regulation

    RULE NO.:RULE TITLE:

    69O-137.001Annual and Quarterly Reporting Requirements

    NOTICE OF CHANGE

    Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 49 No. 182, September 19, 2023 issue of the Florida Administrative Register.

     

    The “Purpose and Effect” and “Summary” sections of the Notice of Proposed Rule contained incorrect language. Those sections should have stated:

     

    Section 624.424, Florida Statutes, requires insurers to file quarterly and annual financial reports with the Office of Insurance Regulation and allows the Office to enact rules setting the standards for those reports. By amending 69O-137.001 to adopt the current versions of these NAIC instructions and manuals, the Office is establishing up-to-date, uniform standards for annual and quarterly reports which will provide the information necessary for the Office to evaluate insurers’ financial conditions.

     

    The summary of statement of estimated regulatory costs and legislative ratification should have included the following language:

     

    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.

     

    The following subsection of the proposed rule will be changed to read:

     

    69O-137.001 Annual and Quarterly Reporting Requirements.

    (1)-(3) No Change.

    (4)(a)-(b) No Change.

    (c) The agency has determined that posting these incorporated materials would be a violation of federal copyright law. The materials are available for public inspection at the Office of Insurance Regulation, Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0300, or at the Department of State, R.A. Gray Building, 500 South Bronough Street, Tallahassee, Florida 32399-0250. A copy of the manuals may also be obtained from the National Association of Insurance Commissioners 1100 Walnut Street, Suite 1500, Kansas City, MO 64106-2197, Telephone (816) 783-8500, website:  http://www.naic.org.Copies of the manuals are available:

    1. From the National Association of Insurance Commissioners at http://www.naic.org; and,

    2. For inspection during regular business hours at the Office of Insurance Regulation, Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0300.

    Rulemaking Authority 624.308(1), 624.424(1) FS. Law Implemented 624.424(1) FS. History–New 3-31-92, Amended 8-24-93, 4-9-95, 4-9-97, 4-4-99, 11-30-99, 2-11-01, 4-5-01, 12-4-01, 12-25-01, 8-18-02, 7-27-03, Formerly 4-137.001, Amended 1-6-05, 9-15-05, 1-25-07, 3-16-08, 3-4-09, 1-4-10, 9-28-11, 1-28-13, 9-15-13, 7-28-15, 10-25-16, 7-30-17, 4-11-19, 7-3-22,              .