The repeal does not affect current practice or the market as current statutory provisions address the approval of multi-policy discounts.

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-125.002Unfair Discrimination in Insurance Rates - Multi-policy Discounts

PURPOSE AND EFFECT: The repeal does not affect current practice or the market as current statutory provisions address the approval of multi-policy discounts.

SUMMARY: This rule has become obsolete due to changes in the law governing the approval of multi-policy discounts. Section 627.0655, F.S. as amended, now has codified the contents of the rule and accordingly the rule is no longer necessary.

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), 626.9611, FS.

LAW IMPLEMENTED: 624.307(1), 626.9541(1)(g), 627.062, 627.0651, 627.072, 627.151, 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: July 26, 2017, 10:00 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: . 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: Sandra Starnes, Office of Insurance Regulation, E-mail [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-125.002 Unfair Discrimination in Insurance Rates - Multi-policy Discounts.

Rulemaking Specific Authority 624.308(1), 626.9611 FS. Law Implemented 624.307(1), 626.9541(1)(g), 627.062, 627.0651, 627.072, 627.151 FS. History– New 2-7-85, Formerly 4-43.06, 4-43.006, 4-125.002 Repealed__________________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Sandra Starnes, 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: June 14, 2017