To repeal Rules 69B-150.008, .110, and .208, F.A.C. These rules are no longer necessary to accomplish the expressed objectives of the provisions of law they implement and are duplicative of Rules 69O-150.008, .110, and .208, ....

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Insurance Agent and Agency Services

RULE NOS.:RULE TITLES:

69B-150.008Testimonials or Endorsements by Third Parties

69B-150.110Testimonials or Endorsements by Third Parties

69B-150.208Testimonials or Endorsements by Third Parties

PURPOSE AND EFFECT: To repeal Rules 69B-150.008, .110, and .208, F.A.C. These rules are no longer necessary to accomplish the expressed objectives of the provisions of law they implement and are duplicative of Rules 69O-150.008, .110, and .208, F.A.C.

SUMMARY: The rules provide requirements and restrictions on the use of testimonials and endorsements on behalf of insurers in advertisement.

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: The Department’s economic analysis of the potential impact of the proposed rule repeal determined that there will be no adverse economic impact or increased regulatory costs that would require legislative ratification.

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, 627.6699(12), FS.

LAW IMPLEMENTED: 624.307(1), 626.051, 626.062, 626.784, 626.830, 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1), 627.6699(9)(d)4., FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Matt Tamplin, Assistant Director, Division of Insurance Agent and Agency Services, 200 E. Gaines St., Tallahassee, FL 32399, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69B-150.008 Testimonials or Endorsements by Third Parties.

Rulemaking Authority 624.308(1), 626.9611 FS. Law Implemented 624.307(1), 626.062, 626.830, 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1) FS. History–New 1-19-73, Repromulgated 12-24-74, Formerly 4-6.08, Amended 6-13-88, Formerly 4-6.008, 4-150.008, Repealed ________.

 

69B-150.110 Testimonials or Endorsements by Third Parties.

Rulemaking Authority 624.308(1), 626.9611 FS. Law Implemented 624.307(1), 626.051, 626.784, 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1) FS. History–New 9-1-73, Formerly 4-35.08, Amended 6-12-88, Formerly 4-35.008, 4-150.110, Repealed ________.

 

69B-150.208 Testimonials or Endorsements by Third Parties.

Rulemaking Authority 624.308(1), 626.9611, 627.6699(12) FS. Law Implemented 624.307(1), 626.062, 626.830, 626.9541(1)(a), (b), (e), (k), (l), 626.9641(1), 627.6699(9)(d)4., 624.307(1) FS. History–New 2-25-93, Formerly 4-150.208, Repealed ________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Matt Tamplin, Assistant Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jimmy Patronis, Chief Financial Officer

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: August 2, 2022