Filing Procedures for Property and Casualty Insurance Rates, Rules, Underwriting Guidelines, and Forms
Office of Insurance Regulation
RULE NO.: RULE TITLE:
69O-170.013 Filing Procedures for Property and Casualty Insurance Rates, Rules, Underwriting Guidelines, and Forms
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. 31, No. 26, July 1, 2005, of the Florida Administrative Weekly. These changes are being made to address concerns expressed at a public hearing.
Subsections (4) and (5) of Rule 69O-170.013, F.A.C., are revised to read:
(4) The following rules also apply to the specific rate/rule filing procedures:
(a) Rule 69O-170.014, F.A.C., (Homeowners);
(b) Rule 69O-175.003, F.A.C., (Private Passenger Auto),
(c) Rule 69O-170.0141, F.A.C., (Dwelling),
(d) Rule 69O-170.0142, F.A.C., (Commercial Residential/ All Other Property and Casualty).
(5) The Office maintains voluntary checklists for insurers' information in properly complying with relevant statutes and rules. The completion of checklists does not preclude the Office from requiring additional information or further explanation of data. Filing checklists are for insurer information only.
Subsections (6), (7) and (8) of Rule 69O-170.013, F.A.C., are renumbered (4), (5) and (6) and read as follows:
(4)(6)(a) All filings sent by U.S. Postal Service shall be addressed to: Property and Casualty Forms and Rates, Post Office Box 7700, Tallahassee, FL 32314-7700.
(b) For delivery other than U.S. Postal Service or hand delivery, filings shall be addressed to: Bureau of Property and Casualty Forms and Rates, Room 233-A, Larson Building, 200 East Gaines Street, Tallahassee, FL 32399-0330.
(c) Subsequent to July 1, 2003, Aall filings shall be submitted electronically to https://iportal.fldfs.com, the industry portal to the Office's I-File System, as adopted in Rule 69O-170.0155, F.A.C. or by computer diskette meeting the compatibility requirements mandated by Section 624.424(1)(c), F.S. Deadlines for filing will not be extended due to shipping delays, format incompatibility, data corruption, or any other impediment which results from an election to file by diskette.
(b) A filing shall be considered received by the Office on business days between the hours of 8:00 a.m. and 5:00 p.m. eastern time. Filings received after 5:00 p.m. shall be considered to be received the next business day.
(5)(a) A rate filing shall contain documentation demonstrating that the proposed rates meet the standards and conditions of Sections 627.062 or 627.0651, F.S., as applicable.
(b) It is the responsibility of the insurer to ensure that the filing contains all the information and documentation the insurer wants considered that supports the rate requested.
(c) A rate filing shall contain information and documentation sufficient for an actuary practicing in the same field to evaluate the work.
(d) Any submission that does not contain the information and documentation required by subsection (3) above, or for which required filing forms have not been completed in their entirety, will result in the Office's issuance of a Notice of Intent to disapprove.
(6)(a) The Office may request additional information or clarification to evaluate the filing for compliance with applicable statutory provisions.
(b) To allow the Office sufficient time to perform a proper review, the insurer shall submit by a date certain stated in a clarification letter any required additional information, explanation of data, or justification of assumptions.
(c) Unless the date is extended by the Office, failure to adequately address the issues by the date stated in the clarification letter may result in a notice of intent to disapprove the filing by the Office.
The remainder of the rule reads as previously published.
