The proposed amendments will update Rule Chapter 69H-1, F.A.C., to reflect changes in processes and procedures used by the Division and to repeal unnecessary rules.

 

DEPARTMENT OF FINANCIAL SERVICES

Division of Risk Management

RULE NOS.:RULE TITLES:

69H-1.001Purpose

69H-1.002Premium Assessments

69H-1.003Certificate and Other Forms Adopted

69H-1.005Automatic Coverage and Certificate of Coverage

69H-1.006Losses

69H-1.007Settlement of Losses

69H-1.008Building Replacement Value

PURPOSE AND EFFECT: The proposed amendments will update Rule Chapter 69H-1, F.A.C., to reflect changes in processes and procedures used by the Division and to repeal unnecessary rules.

SUMMARY: The Division has introduced a cloud-based Insurance Management System, which will eliminate the use of some paper forms and amend the process for reporting claims and updating coverage. The proposed changes will update procedures for reporting claims and coverage related to university premiums, loss reporting, and property coverage for the State Risk Management Trust Fund.

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: The Department’s economic analysis of the potential impact of the proposed rule amendments or repeals determined that there will be no adverse economic impact or increased regulatory costs that would require legislative ratification.

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: 284.17 FS.

LAW IMPLEMENTED: 255.03, 284.01, 284.04 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: Robin Delaney, Assistant Director, Division of Risk Management, [phone], [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69H-1.001 Purpose.

Rulemaking Authority 284.17 FS. Law Implemented 284.01 FS. History–New 7-29-72, Formerly 4-29.01, 4-29.001, Amended 6-21-01, Formerly 4H-1.001, Repealed __________.

 

69H-1.002 Premium Assessments.

(1) Premium assessments shall be paid within thirty days from date of invoice/billing, or may be suspended by reasonable notice.

(2) No change.

(3) Within 30 days of notification by the Division of Risk Management, agencies and universities shall make annual property value updates through the Division of Risk Management Insurance Management System at https://live.origamirisk.com/.

Rulemaking Authority 284.17 FS. Law Implemented 284.01 FS. History–New 7-29-72, Formerly 4-29.02, 4-29.002, Amended 1-7-92, 12-27-95, Formerly 4H-1.002, Amended __________.

 

69H-1.003 Certificate and Other Forms Adopted.

Rulemaking Authority 284.17 FS. Law Implemented 255.03(1), 284.01 FS. History–New 7-29-72, Formerly 4-29.04, 4-29.004, Amended 1-7-92, 10-3-94, 12-27-95, 6-21-01, Formerly 4H-1.003, Amended 7-23-06, 1-9-11, Repealed __________.

 

69H-1.005 Automatic Coverage and Certificate of Coverage.

(1) Automatic coverage will be provided on any acquired risk for a period of thirty days during which time formal application must be made on Form Dfs-d0-850, Coverge Request Form, (Effective 09/2022), which is hereby incorporated by reference and available through the Division of Risk Management Insurance Management System at https://live.origamirisk.com/ or at http://www.flrules.org/Gateway/reference.asp?No=Ref-______, for buildings and Form Dfs-d0-851 for contents.

(2) A Certificate of Coverage, Form Dfs-d0-852, Certificate of Property Coverage, (Effective_09/2022), which is hereby incorporated by reference and available at https://myfloridacfo.com/Division/Risk/ or http://www.flrules.org/Gateway/reference.asp?No=Ref-          , as adopted in rule 69H-1.003, F.A.C., will be issued initially upon acceptance and then annually thereafter.

(3) When required by the specific circumstances of the risk involved, Form Dfs-d0-853, Certificate of Rental Value Coverage, (Effective 09/2022), which is hereby incorporated by reference and available at https://myfloridacfo.com/Division/Risk/ or http://www.flrules.org/Gateway/reference.asp?No=Ref-________, as adopted in rule 69H-1.003, F.A.C., will be attached and made a part of the Certificate of Coverage.

Rulemaking Authority 284.17 FS. Law Implemented 284.01, 284.04 FS. History–New 7-29-72, Formerly 4-29.06, 4-29.006, Amended 1-7-92, 10-3-94, Formerly 4H-1.005, Amended __________.

 

69H-1.006 Losses.

The insured must notify the Fund of all losses electronically through the Division of Risk Management Insurance Management System on Form Dfs-d0-854, Notice of Property Loss, (Effective 09/2022), which is hereby incorporated by reference and available at https://live.origamirisk.com/ or http://www.flrules.org/Gateway/reference.asp?No=Ref-______. as adopted in rule 69H-1.003, F.A.C.

Rulemaking Authority 284.17 FS. Law Implemented 284.01 FS. History–New 7-29-72, Formerly 4-29.07, 4-29.007, Amended 1-7-92, Formerly 4H-1.006 , Amended __________.

 

69H-1.007 Settlement of Losses.

(1) Losses are to be settled on an actual cash value (ACV) basis of the damaged property that has been replaced with property of like kind and quality; or pay the cost of repairing; whichever is less. Actual cash value for the building and contents is defined as replacement cost less depreciation. Dfs-d0-1391 will be used to report information needed by the Division to calculate an ACV.

(2) Lightning losses will require, submission of in addition to standard documentation for a claim, Form Dfs-d0-855, Statement – Lightening Losses, (Effective 09/2022), which is hereby incorporated by reference as adopted in rule 69H-1.003, F.A.C. in addition to the standard documentation for a claim. A copy of the form is available at https://myfloridacfo.com/Division/Risk/ or http://www.flrules.org/Gateway/reference.asp?No=Ref-_______.

(3) When final settlement of a claim is agreed to, the claims coordinator will sign and return Form Dfs-d0-856,Certificate of Proof of Loss, (Effective 09/2022), which is hereby incorporated by reference, as adopted in rule 69H-1.003, F.A.C., in duplicate, to the Division of Risk Management. A copy of the form is available at https://myfloridacfo.com/Division/Risk or http://www.flrules.org/Gateway/reference.asp?No=Ref ______.

Rulemaking Authority 284.17 FS. Law Implemented 284.01 FS. History–New 7-29-72, Formerly 4-29.08, Amended 5-9-91, Formerly 4-29.008, Amended 1-7-92, 12-27-95, 6-21-01, Formerly 4H-1.007, Amended __________.

 

69H-1.008 Building Replacement Value.

Rulemaking Authority 284.17 FS. Law Implemented 284.01 FS. History–New 1-7-92, Formerly 4H-1.008, Repealed ________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Robin Delaney, Assistant Director

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Jimmy Patronis, Chief Financial Officer

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 30, 2023

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: August 22, 2022