Section 624.424, Florida Statutes, requires insurers to file quarterly and annual financial reports with the Office of Insurance Regulation and allows the Office to enact rules setting the standards for those reports. By ....

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-137.001Annual and Quarterly Reporting Requirements

69O-137.004Reports of Information by Health Insurers Required

PURPOSE AND EFFECT: Section 624.424, Florida Statutes, requires insurers to file quarterly and annual financial reports with the Office of Insurance Regulation and allows the Office to enact rules setting the standards for those reports. By amending 69O-137.001 to adopt the current versions of these NAIC instructions and manuals, the Office is establishing up-to-date, uniform standards for annual and quarterly reports which will provide the information necessary for the Office to evaluate insurers’ financial conditions.

The proposed amendment to Rule 69O-137.004, F.A.C., promulgates the current version of Form OIR-B2-1094, “Report of Gross Annual Premiums and Enrollment Data for Health Benefit Plans Issued to Florida Residents” and creates Form OIR-B3-494, “Implemented Health Insurance Measures”, to collect information required by Section 637.9175, F.S.

SUMMARY: Rule 69O-137.001 is amended to adopt the current versions of these NAIC instructions and manuals.

The amendment to Rule 69O-137.004, F.A.C., promulgates the current version of Form OIR-B2-1094, “Report of Gross Annual Premiums and Enrollment Data for Health Benefit Plans Issued to Florida Residents.” The amendment also creates Form OIR-B3-494, “Implemented Health Insurance Measures”, which will collect information on measures implemented or proposed to contain health insurance costs or cost increases as required by Section 637.9175(2), F.S.

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), 624.424(1), 627.9175, F.S

LAW IMPLEMENTED: 624.307(1), 624.424(1), 627.9175, 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: Kama Monroe, Assistant General Counsel, Office of Insurance Regulation, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-137.001 Annual and Quarterly Reporting Requirements.

(1) The purpose of this rule is to establish uniform requirements reporting of annual and quarterly statement information for all authorized insurers as defined in Section 624.09, F.S.

(2) Each authorized insurer shall file with the Office a full and true statement of its financial condition, transactions, and affairs.

(a) An annual statement covering the preceding calendar year shall be filed on or before March 1, and quarterly statements covering the periods ending on March 31, June 30, and September 30 shall be filed within 45 calendar days after each such date.

(b) The Office shall grant an extension of time for filing an annual or quarterly statement if there exist conditions beyond the control of the authorized insurer, such as rehabilitation pursuant to Chapter 631, F.S., or the laws of the state of domicile; severe damage to the insurer’s physical premises by a natural or man-made disaster; or some other reason of similar gravity and severity. The extension shall be for the amount of time reasonable to file under the conditions which justified the extension.

(c) For purposes of this rule, the requirement that statements be filed with the Office means that the statement has been transmitted electronically to the National Association of Insurance Commissioners and that the executed Jurat page of said statement has been transmitted electronically to the Office via the Regulatory Electronic Filing System, “REFS.” The date affixed by the Office’s electronic data processing system shall serve as evidence of the timeliness of the statement. Annual and quarterly statements in any other format shall not be submitted to the Office.

(3) Annual and Quarterly Statement Reporting.

(a) Each insurer shall submit its annual and quarterly statement information electronically to the National Association of Insurance Commissioners in accordance with the electronic filing instructions specified in paragraph (3)(b), below.

(b)1. The National Association of Insurance Commissioners electronic transmission filing instructions (Financial Internet Filing Online User’s Guide 2023 2020) are hereby adopted and incorporated by reference, www.flrules.org/XXXXX https://www.flrules.org/Gateway/reference.asp?No=Ref-14524.

2. A copy of these specifications may be obtained from the National Association of Insurance Commissioners at http://www.naic.org/industry_financial_filing.htm.

(4) Manuals Adopted.

(a) Annual statements shall be prepared in accordance with the following manuals, which are hereby adopted and incorporated by reference:

1. The NAIC’s Annual Statement Instructions, Property and Casualty, 2022 2019;

2. The NAIC’s Annual Statement Instructions, Life, Accident and Health\Fraternal, 2022 2019;

3. The NAIC’s Annual Statement Instructions, Health, 2022 2019;

4. The NAIC’s Annual Statement Instructions, Title, 2022 2019; and,

5. The NAIC’s Accounting Practices and Procedures Manual, as of March 2022 2019.

(b) Quarterly statements shall be prepared in accordance with the following manuals, which are hereby adopted and incorporated by reference:

1. The NAIC’s Quarterly Statement Instructions, Property and Casualty, 2023 2020;

2. The NAIC’s Quarterly Statement Instructions, Life, Accident and Health\Fraternal, 2023 2020;

3. The NAIC’s Quarterly Statement Instructions, Health, 2023 2020;

4. The NAIC’s Quarterly Statement Instructions, Title, 2023 2020; and,

5. The NAIC’s Accounting Practices and Procedures Manual, as of March 2023 2020.

(c) Copies of the manuals are available:

1. From the National Association of Insurance Commissioners at http://www.naic.org; and,

2. For inspection during regular business hours at the Office of Insurance Regulation, Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0300.

Rulemaking Authority 624.308(1), 624.424(1) FS. Law Implemented 624.424(1) FS. History–New 3-31-92, Amended 8-24-93, 4-9-95, 4-9-97, 4-4-99, 11-30-99, 2-11-01, 4-5-01, 12-4-01, 12-25-01, 8-18-02, 7-27-03, Formerly 4-137.001, Amended 1-6-05, 9-15-05, 1-25-07, 3-16-08, 3-4-09, 1-4-10, 9-28-11, 1-28-13, 9-15-13, 7-28-15, 10-25-16, 7-30-17, 4-11-19, 7-3-22,              .

 

69O-137.004 Reports of Information by Health Insurers Required.

(1) Any insurer authorized to write a policy or certificate of health insurance in the state shall, on or before April 1 for the preceding year ending December 31, report the information required by:

(a) Form OIR-B2-1094, “Report of Gross Annual Premiums and Enrollment Data for Health Benefit Plans Issued to Florida Residents”, providing information on health benefit plans written in this state, and

(b) Form OIR-B2-575, “Implemented Health Insurance Measures”, providing information on measures implemented or proposed to contain health insurance costs or cost increases.

(2) The following forms are hereby adopted and incorporated by reference:

(a) OIR-B2-1094, (rev. 01/23)(rev. 05/2005), “Report of Gross Annual Premiums and Enrollment Data for Health Benefit Plans Issued to Florida Residents” available at www.flrules.org/XXXXX. 

(b) OIR-B2-575, (new 07/23), “Implemented Health Insurance Measures” available at www.flrules.org/XXXXX. 

(c) Copies of forms are available and may be printed from the Office’s website: http://www.floir.com/iportal.

(d)(c) All filings shall be submitted electronically through http://www.floir.com/iportal.

Rulemaking Authority 624.308(1), 627.9175 FS. Law Implemented 624.307(1), 627.9175 FS. History–New 3-21-85, Amended 2-9-86, Formerly 4-59.081, Amended 2-25-87, 2-22-89, Formerly 4-59.0081, 4-137.004, Amended 9-15-05, _____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Christopher Struk, Program and Policy Coordinator

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 18, 2023

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 24, 2023