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

(1)(a) All individual health insurance issuers shall file a designation with the Office of their election to become either a risk-assuming or a reinsuring carrier.

(b) The individual issuer desiring to be a risk-assuming or reinsuring carrier shall use Form OIR-B2-1311 (rev. 8/03), http://www.flrules.org/Gateway/reference.asp?No=Ref-08294, 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, as required by Section 627.6475(5), F.S.

(2)(a) The Office shall provide notice by publication of the individual issuer’s designation of election to become a risk assuming or reinsuring carrier, and shall allow 21 days from the date of publication to receive comment prior to making its decision on the election.

(b) The Office shall hold a hearing on the election if requested by the carrier.

(3) The Office shall approve or disapprove any application within 60 days of receipt of the application, based on the criteria in Section 627.6475(6), F.S., for risk assuming carriers or Section 627.6475(7), F.S., for reinsuring carriers.

Rulemaking Authority 624.308, 627.6475(9) FS. Law Implemented 624.424, 627.6475, 627.6487(9) FS. History–New 9-19-00, Formerly 4-154.115, Amended 7-30-17.