The change adopts annuity mortality tables for use in financial reporting of annuity reserves as set forth in Section 625.121 Florida Statutes. The added new mortality table, recently adopted by the NAIC, is based upon recent annuitant mortality of ...

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO.: RULE TITLE:
69O-162.102: Purpose
69O-162.103: Definitions
69O-162.104: Individual Annuity or Pure Endowment Contracts
69O-162.106: Application of 1994 GAR Table
69O-162.108: Tables
PURPOSE AND EFFECT: The change adopts annuity mortality tables for use in financial reporting of annuity reserves as set forth in Section 625.121 Florida Statutes. The added new mortality table, recently adopted by the NAIC, is based upon recent annuitant mortality of insurers. Adoption will create uniformity among states following NAIC model regulation.
SUBJECT AREA TO BE ADDRESSED: Adoption of annuity mortality tables for use in reserves.
RULEMAKING AUTHORITY: 624.308, 625.121(5)(i) FS.
LAW IMPLEMENTED: 624.307(1), 625.121 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:
DATE AND TIME: March 19, 2013 at 9:30 a.m.
PLACE: 142 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: Kerry Krantz, 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: Kerry Krantz, 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.