To adopt new technology for insurer reporting.

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO: RULE TITLE
69O-171.002: General Reporting Requirements
69O-171.008: Insurer Experience Reporting - Calendar Year Experience
PURPOSE AND EFFECT: To adopt new technology for insurer reporting.
SUMMARY: Adopts Form for entry of data and instructions.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
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.
SPECIFIC AUTHORITY: 624.308(1) FS.
LAW IMPLEMENTED: 624.307(1), 624.424(1)(c), 627.915(2), (5), 627.918(1) 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:
DATE AND TIME: October 15, 2007, 9:30 a.m.
PLACE: Room 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: Belynda Shadoan, Deputy Chief of Staff’s Office, 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 IS: Angela Lockwood, Deputy Chief of Staff’s Office, Office of Insurance Regulation

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-171.002 General Reporting Requirements.

(1) Forms incorporated by reference in Division Number 69O these rules are available on the Office’s website: http://www.floirfldfs.com.

(2) All filings shall be submitted electronically to https://iportal.fldfs.com.

(3) All forms shall be filled out completely in accordance with their instructions. If an insurer is without any data required by these rules to be reported, it shall nevertheless complete and file the prescribed form or forms as directed in the instructions associated with each form by writing “none” in the appropriate spaces, and file the form or forms with the Office in the prescribed manner.

(4)(a) Any insurer or insurer group which does not write at least 1/2 percent of the Florida market, based on written premiums, shall not be required to complete and submit to the Office the forms prescribed by Rule 69O-171.008, F.A.C. Instead of completing form OIR-308, “Calendar Year Experience” as adopted in Rule 69O-171.008, F.A.C., the insurer shall list each line of insurance that is less than 1/2 percent of the market and list the corresponding written premiums for each of these lines of insurance.

(b) In calculating the percentage of market, an insurer shall only use the figure for the preceding year’s total premiums written in the state as compiled by the Office based upon the annual statements submitted by insurers.

Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 627.915(5), 627.918(1) FS. History–New 1-16-83, Amended 7-1-85, Formerly 4-59.09, 4-59.009, Amended 6-4-92, 1-2-02, Formerly 4-171.002, Amended 9-15-05,__________.

 

69O-171.008 Insurer Experience Reporting – Calendar Year Experience.

(1) Any insurer authorized to transact fire, homeowner’s, multiple peril, commercial multiple peril, medical malpractice, product liability, workers’ compensation, private passenger automobile liability, commercial automobile liability, private passenger automobile physical damage, commercial automobile physical damage, directors’ and officers’, or other liability insurance shall report, for each such line of insurance, the information required by Section 627.915(2), F.S., Section 627.915(5), F.S., or required by rule, on Form OIR-B1-308 (Rev. 07/03), “Calendar Year Experience”, data reporting form OIR-D0-308 (Revised 02/2007) “Florida Property and Casualty Insurance Calendar Year Experience”. which is hereby incorporated by reference, and is available and is to be completed and submitted on the Office’s website: http://www.fldfs.com/DI4-308.

(2) Reports for the preceding calendar year are due on or before April 1 of each year.

Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 624.424(1)(c), 627.915(2), (5), 627.918(1) FS. History–New 1-16-83, Amended 7-1-85, Formerly 4-59.07, Amended 6-15-88, Formerly 4-59.007, 4-171.008, Amended 9-15-05.

NAME OF PERSON ORIGINATING PROPOSED RULE: Angela Lockwood, Deputy Chief of Staff’s Office, Office of Insurance Regulation
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Audrey Brown, Deputy Chief of Staff’s Office, Office of Insurance Regulation
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: July 31, 2007
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: May 18, 2007.