Late Filed Reports - Fine Schedule

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-207.001Late Filed Reports - Fine Schedule

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. 43 No. 56, March 22, 2017 issue of the Florida Administrative Register.

69O-207.001 should read:

69O-207.001 Late Filed Reports - Fine Schedule.

(1) The following schedule of fines is hereby adopted by the Commission as a guideline in assessing fines against the referenced entities for the late filing of annual reports or statements as required by law:

Entity	A	B	Maximum Fine
(a) Continuing Care	$25 per day	$50 per day	None
(651.026(1) and	and 50% of	and 50% of
651.015(2)(c))	renewal fee	renewal fee
(b) Preneed Funeral	$12.50 per	$25.00 per	None
(639.10)	day each for	day for Part I
	Part I and	and Part II
	Part II	of Report
	of Report
(b)(c) Health Maintenance	$100 per day	$200 per day	$100,000
Organizations
(641.26(3))
(c)(d) Prepaid Health	$25 per day	$50 per day	None
Clinics
(641.41(2))
(e) Prepaid Dental	$12.50 per day	$25 per day	$1,000
(637.423)
(f) Ambulance	$12.50 per day	$25 per day	$500
Service
(638.122(2))
(g) Pharmaceutical	$12.50 per day	$25 per day	$500
Contracts
(637.278(2))
(h) Prepaid	$12.50 per day	$25 per day	$500
Optometric
(637.118(2))
(d)(i) Multiple	$100.00 per day	$200 per day	$2,500
Employer Welfare
Arrangements
(624.442(5))(624.4211(2))
(e)(j) Motor Vehicle Service Agreements Automobile	$100 per day	$100 per day	None
Warranty
(634.137)) (634.131(3))
(f)(k) Home Warranty	$25 per day	$50 per day	None
(634.313(3))
(g)(l) Premium Finance	$12.50 per day	$25 per day	$500
(626.681)
(h)(m) Prepaid Legal	$12.50 per day	$25 per day	$1,000
(642.0338(2))
(i)(n) Service Warranty	$50 per day	$100 per day	None
(634.415(3))
(j)(o) Insurance	$12.50 per day	$25 per day	$1,000
Administrators
(626.894(2))

 

“A” is applicable if the entity filed late last year and filed late this year, but within 5 days after notice or if timely filed last year and late by more than five days after notice in current year. “B” is applicable if the entity filed late last year and filed late in current year more than 5 days after notice.

(2) The fines provided in subsection (1) above may be increased or decreased based on the following mitigating and aggravating factors:

(a) Mitigating:

1. The entity has given advance notice to the Office that it will be filing late.

2. Justifiable unforeseen cause not within control of entity.

3. The entity has timely submitted major portions of the report.

4. Other mitigating factors as the Office may determine on the facts of the particular situation.

(b) Aggravating:

1. The entity has not given prior notice to the Office that it will be filing late.

2. Adverse financial condition indicated when report is filed.

3. Past violations by the entity.

4. Willfully or intentionally failing to file the report.

(3) The fines referenced in subsection (1) above are in addition to any other penalties that may be allowed by law, including the summary suspension of authority to transact business until the report is filed.

(4) For purposes of this rule an annual report or statement, required by law, is deemed received by the Office on the date it is submitted electronically at http://www.floir.com/iportal.postmarked by the official U. S. Postal Service Cancellation. Metered mail is not acceptable to meet this requirement. If metered mail is utilized or there is no official U. S. Postal Service Cancellation, the date stamped “received” by the Office will be deemed the date received.

Rulemaking Specific Authority 624.308(1),634.021, 634.302, 634.402, 637.165, 637.325, 638.031, 639.08, 634.137,  641.36, 641.403, 651.015 FS. Law Implemented 624.307(1), 624.4211(2), 624.424, 624.442, 626.681, 626.894(2), 634.131(3), 627.833, 634.313(3), 634.415(3), 637.118(2), 637.278(2), 637.423, 638.122(2), 639.10, 641.26(4)(3), 641.41(2), 642.0338(2), 652.026(1) FS. History–New 1-28-91, Formerly 4-120.001, 4-207.001 Amended_______________.