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

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NOS.:RULE TITLES:

69O-154.114Withdrawal From the Individual Market

69O-154.115Designation of Election to Become a Risk-Assuming or Reinsuring Carrier

69O-154.305Election and Premium Notice Form

69O-154.410Withdrawal From the Group Market

69O-154.512Withdrawal From the Small Group Market

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, 627.6475(9), 627.6692(9), 641.36, FS.

LAW IMPLEMENTED: 624.307, 624.424, 627.307, 627.410, 627.6425, 627.6475, 627.6487(9), 627.6571, 627.6692(5), 641.31074, 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 at 9:30 a.m.

PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Chris Struk, Office of Insurance Regulation, E-mail [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-154.114 Withdrawal From the Individual Market.

(1) through (7) No change.

(8) The filing shall be submitted to the Office electronically through http://www.floir.com/iportal.

Rulemaking Authority 624.308(1) FS. Law Implemented 624.307(1), 624.424, 627.307, 627.6425 FS. History–New 3-1-98, Formerly 4-154.114, Amended..

 

69O-154.115 Designation of Election to Become a Risk-Assuming or Reinsuring Carrier.

(1)(a) No change.

(b) The individual issuer desiring to be a risk-assuming or reinsuring carrier shall use Form OIR-B2-1311 (rev. 10/98 8/03), State of Florida/Individual Carrier’s Application to Become a Risk Assuming Carrier or a Reinsuring Carrier, which is hereby adopted and incorporated and may be obtained from the Office’s website: http://www.floir.com/iportal Bureau of Life and Health Forms & Rates, 200 East Gaines Street, Tallahassee, Florida 32399-0328, as required by Section 627.6475(5), F.S.

(2) and (3) No change.

Rulemaking Authority 624.308, 627.6475(9) FS. Law Implemented 624.307(1), 624.424, 627.6475, 627.6487(9) FS. History–New 9-19-00, Formerly 4-154.115, Amended                                          ..

 

69O-154.305 Election and Premium Notice Form.

(1) Within 14 days of the date that the carrier receives the notice of occurrence of a qualifying event from the qualified beneficiary the carrier must send to the employee, covered spouse and covered dependents, by certified mail, the Election and Premium Notice Form OIR-B2-1261 (REV 8/03), which is hereby adopted and incorporated by reference. Copies of the forms are available and may be printed from the Office’s website: http://www.floir.com/iportal http://www.floir.com/lh_fr/is_lhfr_Statutory%20Form%20and%20%20Reporting.htm.

(2) Carriers may develop a similar form which must include the information in Form OIR-B2-1261. Any similar form must be filed and approved before use pursuant to the requirements of Section 627.410, F.S. Any filing shall be submitted to the Office electronically through http://www.floir.com/iportal.

Rulemaking Authority 624.308(1), 627.6692(9) FS. Law Implemented 624.307(1), 624.424, 627.6692(5) FS. History–New 4-24-97, Formerly 4-154.305, Amended 5-4-06, ____________.

 

69O-154.410 Withdrawal From the Group Market.

(1) through (7) No change.

(8) The filing shall be submitted to the Office electronically through http://www.floir.com/iportal.

Rulemaking Authority 624.308(1), 641.36 FS. Law Implemented 624.424,  627.307, 627.410, 627.6571(3)(b), 641.31074 FS. History–New 3-1-98, Formerly 4-154.410, Amended                                          ..

 

69O-154.512 Withdrawal From the Small Group Market.

(1) through (7) No change.

(8) The filing shall be submitted to the Office electronically through http://www.floir.com/iportal.

Rulemaking Authority 624.308(1) FS. Law Implemented 624.424, 627.307, 627.410, 627.6571 FS. History–New 3-1-98, Formerly 4-154.51, Amended..

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Chris Struk, 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