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Florida Administrative Code (Last Updated: November 11, 2024) |
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69. Department of Financial Services |
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69O. OIR – Insurance Regulation |
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69O-188. Commercial Self-Insurance Funds |
1(1) Each commercial self-insurance fund shall submit electronically to http://www.floir.com/iportal. For the purpose of complying with rule chapter 69O-137, F.A.C., a commercial self-insurance fund shall be considered an authorized insurer, except that the fund’s annual statement shall be due on or before April 1 of each year.
48(2) As an aggregate write-in on the balance sheet of the Annual Statement for assets and policyholders’ surplus, an entry for future investment income on losses and allocated loss adjustment expense reserves and unallocated loss adjustment expense reserves shall be reflected. Future investment income shall be calculated as follows:
97A + B + C - D
104A105=106Losses and Allocated Loss Adjustment Expense Reserves
113B114=115Unallocated Loss Adjustment Expense Reserves
120C121=122Excess of Statutory Reserves over Statement Reserves
129D130=131Present Value of A + B + C
139(3) If a commercial self-insurance fund elects to report on a policy year basis under rule 15569O-188.022, 156F.A.C., then the commercial self-insurance fund shall file a supplemental schedule on a policy year basis of Schedule P of the NAIC Annual Statement Form for Fire and Casualty Insurers.
186Rulemaking Authority 188624.308 FS. 190Law Implemented 192624.307(1), 193624.424, 194624.470, 195624.474, 196624.488 FS. 198History–New 12-17-90, Formerly 4-78.023, 4-188.023, Amended 7-30-17.
