These rule revisions update the rules to reflect electronic filing process.  

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    DEPARTMENT OF FINANCIAL SERVICES

    OIR – Insurance Regulation

    RULE NO.:RULE TITLE:

    69O-142.015Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters

    PURPOSE AND EFFECT: These rule revisions update the rules to reflect electronic filing process.

    SUMMARY: The various rules indicate how forms and filings are to be made to the Office. These rule revisions update the rules to reflect the electronic fling process.

    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: Agency personnel familiar with the subject matter of the rule amendment have performed an economic analysis of the rule amendment that shows that the rule amendment is unlikely to have an adverse impact on the State economy in excess of the criteria established in Section 120.541(2)(a), Florida Statutes.

    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, 627.7019, FS.

    LAW IMPLEMENTED: 624.424, 624.307(1), 624.319, 627.7019, 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: April 13, 2017, 9:30 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: Robert Ridenour, Office of Insurance Regulation, E-mail Robert.ridenour@floir.com.. 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: Robert Ridenour, Office of Insurance Regulation, E-mail Robert.ridenour@floir.com.

     

    THE FULL TEXT OF THE PROPOSED RULE IS:

     

    69O-142.015 Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters.

    This rule adopts standardized requirements that may be applied to insurers as a consequence of a hurricane or other natural disaster. The Office is authorized to issue an Order or Orders deemed necessary to protect the health, safety and welfare, activating the requirements herein, in whole or in part. An Order may be amended as deemed necessary to accommodate the particular circumstances of the specified hurricane or natural disaster. The following standardized provisions may be activated as provided herein:

    (1) Claims Reporting Requirements.

    (a) No change. 

    (b) The following form is hereby adopted and incorporated by reference:

    1. OIR-DO-1681 (revised 05/2007) “Catastrophic Event Data Reporting and Analysis”.

    2. Copies of the form are available and may be printed from the Office’s website: http://www.floir.com/.

    3. All information shall be submitted electronically through http://www.floir.com/iportal.  https://iportal.fldfs.com.

    (2) Other property coverages where loss is not specifically excluded in the policy’s outline of coverage such as:

     

    (a) No change. 

    (b) Reinsurance contracts are not subject to this rule, however, ceding insurers shall, within ten (10) days, notify the Office, in writing, of the cancellation or nonrenewal of any reinsurance contract reinsuring property risks located in the State. All filings shall be submitted electronically to http://www.floir.com/iportal. The notice should be directed to Property and Casualty Financial Oversight.

    (c) through (r) No change. 

    Rulemaking Authority 624.308, 627.7019 FS. Law Implemented 624.307(1), 624.424, 624.319, 627.7019 FS. History–New 6-12-07, Amended______________.

     

    NAME OF PERSON ORIGINATING PROPOSED RULE: Robert Ridenour, Office of Insurance Regulation, E-mail Robert.ridenour@floir.com.

    NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: THE FINANCIAL SERVICES COMMISSION

    DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 14, 2017

    DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: February 22, 2017

Document Information

Comments Open:
3/22/2017
Summary:
The various rules indicate how forms and filings are to be made to the Office. These rule revisions update the rules to reflect the electronic fling process.
Purpose:
These rule revisions update the rules to reflect electronic filing process.
Rulemaking Authority:
624.308, 627.7019, FS.
Law:
624.424, 624.307(1), 624.319, 627.7019, FS.
Contact:
Robert Ridenour, Office of Insurance Regulation, E-mail Robert.ridenour@floir.com.
Related Rules: (1)
69O-142.015. Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters