The Office is updating the delivery method of the data in Form OIR-B1-588 for a more effective method of collecting and analyzing the information.

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-137.008Filing of Statistical and Quarterly Reports for Individually Rated Risks and Excess Rates

PURPOSE AND EFFECT: The Office is updating the delivery method of the data in Form OIR-B1-588 for a more effective method of collecting and analyzing the information.

SUMMARY: The Office is updating the delivery method of the data in Form OIR-B1-588 from a hard copy form to being delivered in the Office’s IRFS system.

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), 627.331(1) FS.

LAW IMPLEMENTED: 624.307(1), 624.418, 624.4211, 624.424(6), 627.062, 627.171, 627.331 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: Michael Lawrence, Jr., Chief Legal Counsel, Office of Insurance Regulation, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-137.008 Filing of Statistical and Quarterly Reports for Individually Rated Risks and Excess Rates

(1) No change.

(2) Submitting the Report. Forms shall be filed electronically at https://www.floir.com/iportal. may be submitted by mailing a completed electronic version via email to [e-mail] or by mailing a copy to Property and Casualty Product Review Unit, Office of Insurance Regulation, 200 E. Gaines St., Tallahassee, FL 32399-0330.

Rulemaking Authority 624.308(1), 627.331(1) FS. Law Implemented 624.307(1), 624.418, 624.4211, 624.424(6), 627.062, 627.171, 627.331 FS. History–New 6-9-93, Amended 9-19-94, Formerly 4-137.008, Amended 7-30-17, ________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Sandra Starnes, Director of Property & Casualty Product Review

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 22, 2020

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 28, 2020