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

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-137.003Premium Growth Reporting

69O-137.009Filing Procedures for Commercial and Personal Residential Property Supplemental Quarterly Report

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 and in some cases the forms have been updated to reflect current practice.

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(1), 624.4085, 624.4243(3), 624.424(8)(e),(10), FS.

LAW IMPLEMENTED: 624.307(1), 624.324, 624.424(8),(10), 624.4243, 624.610(11), 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 [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: Robert Ridenour, Office of Insurance Regulation, E-mail [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-137.003 Premium Growth Reporting.

Section 624.4243(3), F.S., requires that a form for reporting premium growth be adopted by rule for each insurer that has been authorized to transact property and casualty insurance in Florida for less than three years. Form OIR-A1-1229 (rev 9/06 7/01), entitled “Office of Insurance Regulation Premium Growth Reporting Form,” is hereby incorporated by reference to be the form specified in Section 624.4243(3), F.S., for reporting premium growth. Forms are available at http://www.floir.com/iportal. This form may be obtained from the Document Processing Section, Division of Administration, Office of Insurance Regulation, Larson Building, Tallahassee, FL 32399-0311. Forms are additionally available and may be printed from the office’s web site: www.dfs.state.fl.us. All forms may be reproduced at will.

Rulemaking Authority 624.4243(3) FS. Law Implemented 624.4243 FS. History–New 3-26-98, Amended 3-27-02, Formerly 4-137.003, Amended________________.

 

69O-137.009 Filing Procedures for Commercial and Personal Residential Property Supplemental Quarterly Report.

(1) through (3) No change. 

(4) The supplemental report shall be filed on a quarterly basis in conjunction with financial reports on Form OIR-D0-1185 (1/96) “Quarterly Supplemental Report”, which is hereby adopted and incorporated by reference. The information shall may be submitted either in hard-copy form or on a computer diskette using a template developed by the Office in a specified software. This form or diskette may or be obtained from the Office’s website at http://www.floir.com/iportal. Property & Casualty Solvency Section, Bureau of P & C Solvency, Market Conduct & Surplus Lines, Office of Insurance Regulation, 200 East Gaines Street, Tallahassee, FL 32399-0329.

Rulemaking Authority 624.424(10) FS. Law Implemented 624.424(10) FS. History–New 7-3-96, Formerly 4-137.009, Amended____.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Robert Ridenour, Office of Insurance Regulation, E-mail [e-mail].

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