These rule revisions update the rules to reflect electronic filing process.

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-187.006Deficit Assessments and Surplus Funds

69O-187.007Continuing Requirements Including Filing of Reports and Rates

69O-187.008Contracts for Excess Insurance

69O-187.009Termination or Merger of Self-Insurance Trust Fund

PURPOSE AND EFFECT: These rule revisions update the rules to reflect electronic filing process.

SUMMARY: The various rules indicate how forms and filings are to be made to the Office. These rule revisions update the rules to reflect the electronic fling process.

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: 627.357(3),(6), 624.308(1), FS.

LAW IMPLEMENTED: 624.307(1), 624.424(6), 627.357, 627.4147, 627.4148, FS.

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: April 13, 2017, 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: Robert Ridenour, 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: Robert Ridenour, Office of Insurance Regulation, E-mail [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-187.006 Deficit Assessments and Surplus Funds.

(1) through (2) No change.

(3) All filings shall be submitted electronically to http://www.floir.com/iportal.

Rulemaking Specific Authority 627.357(6), 624.308(1) FS. Law Implemented 624.307(1), 624.424,  627.357 FS. History–New 10-7-75, Formerly 4-39.05, Amended 5-10-89, Formerly 4-39.005, 4-187.006, Amended__________________.

 

69O-187.007 Continuing Requirements Including Filing of Reports and Rates.

(1) The Trustees shall have the accounts and records of the Fund audited annually or at any time as may be required by the Office, such audit to be made by Certified Public Accountants or by authorized representatives of the Office, with the Office reserving the right to prescribe a uniform accounting system to be used by the Fund in order that it may determine the solvency of the Fund. An audit prepared by other than Office personnel shall be a certified audit filed with and received by the Office in Tallahassee within ninety (90) days after the close of the fund year. All filings shall be submitted electronically to http://www.floir.com/iportal.

(2) The Trustees shall annually file a report as to financial condition, loss experience, and operational expense of the Fund on Form OIR-342 entitled “Medical Malpractice Self-Insurance Trust Fund Annual Audit”. This report shall be due and must be received by the Office within ninety (90) days of the close of the fund year. Form OIR-342, rev. 2/93, is hereby adopted and incorporated by reference.Forms are available at http://www.floir.com/iportal. Form OIR-342 may be obtained from and shall be submitted to the Office of Insurance Regulation, Bureau of Property and Casualty Forms and Rates, Larson Building, Tallahassee, Florida 32399-0300.

(3) thru (5) No change.

(6) The Fund shall file with the Office all changes or modifications to documents previously filed with the Office at least thirty (30) days prior to the date of implementation and all changes and modifications shall be subject to Office approval. All filings shall be sumbitted electronically to http://www.floir.com/iportal.

(7) thru (8) No change.

(9) The Trustees shall file quarterly reports as to the financial condition, loss experience and operational expense of the Fund on Form OIR-343, “Medical Malpractice Self-Insurance Trust Fund Quarterly Audit”, rev. 2/93, which is hereby adopted and incorporated by reference. This report is due and must be received by the Office within sixty (60) days of the close of the fund quarter. Forms are available at http://www.floir.com/iportal. Form OIR-343 may be obtained from and shall be submitted to the Office of Insurance Regulation, Bureau of Property and Casualty Forms and Rates, Larson Building, Tallahassee, FL 32399-0300.

(10) No change.

Rulemaking Specific Authority 624.308(1), 627.357(6) FS. Law Implemented 624.307(1),  624.424, 627.357, 627.4147, 627.4148 FS. History–New 10-7-75, Formerly 4-39.06, Amended 5-10-89, Formerly 4-39.006, Amended 1-18-94, Formerly 4-187.007, Amended___________.

 

69O-187.008 Contracts for Excess Insurance.

Specific excess and aggregate excess insurance may be required as a condition of approval or continuing operation of the Fund.

The Fund shall not voluntarily reduce its specific excess or aggregate excess insurance without the prior approval of the Office. The Fund shall notify the Office of any involuntary changes in such coverages as soon as the Fund receives notice of any such change in coverage. The Office may approve the continued operations of the Fund with the reduced coverage taking into consideration the availability of such excess insurance, the financial condition of the Fund and the cost of any such excess insurance. All filings shall be submitted electronically to http://www.floir.com/iportal.

Rulemaking Specific Authority 627.357(3), 624.308(1) FS. Law Implemented 624.307(1), 624.424,  627.357 FS. History–New 10-7-75, Formerly 4-39.07, Amended 5-10-89, Formerly 4-39.007, 4-187.008, Amended_______________.

 

69O-187.009 Termination or Merger of Self-Insurance Trust Fund  

(1) No change.

(2) For a voluntary termination or voluntary merger of the Fund, the Trustees shall:

(a) thru (b) No change.

(c) No change.

1. through 2. No change.

3. For a merger:

a. The Fund shall submit a request for a Loss Portfolio Transfer All filings shall be submitted electronically to http://www.floir.com/iportal. on Form OIR-LPT, “Medical Malpractice Self-Insurance Trust Fund Application for Loss Portfolio Transfer,” rev. 7/93, which is hereby adopted and incorporated by reference. The form may be obtained from and shall be submitted to the Bureau of Property and Casualty Forms and Rates, Division of Insurer Services, Office of Insurance Regulation, Larson Building, Tallahassee, FL 32399-0300.

b. through c. No change.

(3) No change.

Rulemaking Specific Authority 624.308(1), 627.357(6) FS. Law Implemented 624.307(1), 624.424(6), 627.357 FS. History–New 1-18-94, Formerly 4-187.009 Amended_________________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Robert Ridenour, 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: March 14, 2017

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: February 23, 2017