CALENDAR: Insurance-Related Legislative and Regulatory Meetings-January 18-22
Jan 19, 2010
LEGISLATIVE INTERIM COMMITTEE MEETINGS
Tuesday, January 19
House Government Operations Appropriations Committee
The Florida House Government Operations Appropriations Committee met on Tuesday, January 19 from 1:00 p.m. through 5:00 p.m. in Room 116 of the Knott Building, The Capitol, Tallahassee. The following insurance-related item was discussed:
- Update and budget review presentation by the Florida Hurricane Catastrophic Storm Risk Management Center, Florida State University
To view the meeting notice, click here.
Thursday, January 21
Senate Committee on Finance and Tax
The Florida Senate Committee on Finance and Tax will meet on Thursday, January 21 from 9:00 a.m. through Noon in Room 301 of the Senate Office Building, The Capitol, Tallahassee. The following proposed committee bill related to wind mitigation features is scheduled to be discussed:
- Senate Bill 7022 Relating to Assessment of Residential Real Property by the Senate Committee on Finance and Tax
To view the meeting notice, click here.
Interim Committee Week Calendars
To view the complete House of Representatives calendar for January 18-22, click here.
To view the complete Senate calendar for January 18-22, click here.
For additional information on Florida’s legislative process and terminology, click here.
INSURANCE REGULATORY MEETINGS
Tuesday, January 19
NAIC Life and Health Actuarial Task Force Meeting
The National Association of Insurance Commissioners (“NAIC”) Life and Health Actuarial Task Force met via teleconference on Tuesday, January 19 at Noon (EST) to discuss Actuarial Guideline XXV: Calculation of Minimum Reserves and Minimum Nonforfeiture Values for Policies with Guaranteed Increasing Death Benefits Based on an Index and related comments from United Benefits, Inc. and the Virginia Bureau of Insurance. The registration call-in number is: 412.317.6715.
Citizens Actuarial and Underwriting Committee Meeting
The Citizens Property Insurance Corporation (“Citizens”) Actuarial and Underwriting Committee met via teleconference on Tuesday, January 19 at 1:00 p.m. The call-in number for this meeting is: 866.631.2413. Items discussed during the meeting included:
- Citizens’ High-Risk Account territory
- New rating plan update
- Inspection outreach program update
- Chinese drywall
- Appraisal recommendations
To view the complete meeting agenda, click here.
Wednesday, January 20
Board of Employee Leasing Companies Meeting
The Florida Board of Employee Leasing Companies will hold a Board meeting via teleconference on Wednesday, January 20 at 10:00 a.m. The call-in number for this meeting is: 888.808.6959; conference code: 9226020. To view the meeting agenda, click here.
NAIC Casualty Actuarial and Statistical Task Force Statistical Subgroup Meeting
The NAIC Casualty Actuarial and Statistical Task Force Statistical Subgroup of the Property and Casualty Committee will meet via teleconference on Wednesday, January 20 at 2:00 p.m. (EST) to continue its discussion on the proposed Guideline for Implementation of Medical Professional Liability Closed Claim Reporting. Comments from academics, the American Insurance Association and the Physician Insurers Association of America will be discussed. The registration call-in number is: 412.317.6715.
NAIC VM PBR Health Subgroup Meeting
The NAIC Valuation Method (“VM”) Principle-Based Reserve (“PBR”) Health Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Wednesday, January 20 at 2:00 p.m. (EST) to discuss VM-25: Health Insurance Reserves Minimum Reserve Requirements. The registration call-in number is: 412.317.6715.
Thursday, January 21
NAIC VM PBR Life Subgroup Meeting
The NAIC VM PBR Life Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Thursday, January 21 at Noon (EST) to discuss VM-20: Requirements for Principles-Based Reserves for Life Products. The registration call-in number is: 412.317.6715.
Friday, January 22
NAIC International Solvency Working Group Meeting
The NAIC International Solvency Working Group of the Executive Committee will meet via teleconference on Friday, January 22 at Noon (EST) to discuss: The International Association of Insurance Supervisors (“IAIS”) draft Standard on Capital Adequacy for Regulatory Solvency Purposes, related Guidance Paper and cover letter; the IAIS draft Standard on Enterprise Risk Management for Solvency Purposes, related Guidance Paper and Insurance Core Principle; and the IAIS draft Standard on the Regulatory Requirements for Investment for Solvency Purposes and related Guidance Paper. The registration call-in number is: 412.317.6715.
NAIC VM Principle-Based Reserve Process and Coordination Subgroup Meeting
The NAIC VM PBR Process and Coordination Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Friday, January 22 at 1:00 p.m. (EST) to discuss VM-00: Valuation Manual and VM-01: Definitions for Terms in Requirements. The registration call-in number is: 412.317.6715.
LOOKING AHEAD
Monday, January 25
FCHLPM Windstorm Mitigation Committee Meeting
The Florida Commission on Hurricane Loss Projection Methodology (“FCHLPM”) Windstorm Mitigation Committee (“Committee”) will meet for the second time in January on Monday, January 25 from 9:00 a.m. through 4:00 p.m. The purpose of the meeting is to adopt the Committee’s report of recommendations for improving the process of assessing, determining and applying windstorm mitigation discounts, credits, rate differentials and other appropriate reductions in insurance deductibles. To view the meeting notice, click here.
Complimentary AAMGA Chinese Drywall Webinar On January 25 Features Colodny Fass Insurance Litigator Joel Fass
Colodny Fass Shareholder Joel Fass will lead a Webinar on Chinese drywall issues hosted by the American Association of Managing General Agents (“AAMGA”) on Monday, January 25, 2010 at Noon (12:00 p.m. EST).
The Webinar, entitled “A Primer on Chinese Drywall Issues: Background Facts, Insurance Coverages & Litigation,” is complimentary and will include discussion on federal and state issues, Chinese drywall litigation and information for insurers, among other issues. To view the Webinar agenda, click here.
Details of the Webinar are as follows:
Date: Monday, January 25, 2010
Time: Noon (12:00 p.m. EST)
Meeting Number: 573 085 779
Password: join
To register, click here.
Monday, January 25 and Tuesday, January 26
Florida Division of Administrative Hearings-FFVA Mutual Insurance Co. v. OIR and FSC
A hearing regarding Florida’s excessive profits law has been set for Monday, January 25 and Tuesday, January 26 at 9:30 a.m. before the Florida Division of Administrative Hearings in the case of FFVA Mutual Insurance Company v. Florida Office of Insurance Regulation and Financial Services Commission.
Date: Monday, January 25 and Tuesday, January 26, 2010
Time: 9:30 a.m.
Place: Division of Administrative Hearings in the DeSoto Building, 1230 Apalachee Parkway, Tallahassee
Monday, January 25 and Wednesday, January 27
Citizens Committee and Board of Governors Meetings
Citizens will hold the following meetings will via teleconference on Monday, January 25 and Wednesday, January 27:
- Finance and Investment Committee – Monday, January 25 at 9:00 a.m. The call-in number for this meeting is: 888.277.7951
- Board of Governors – Monday, January 25 at 10:15 a.m. The call-in number for this meeting is: 888.295.6211
- Claims Committee – Wednesday, January 27 at 12:30 p.m. The call-in number for this meeting is: 888.302.3367
Tuesday, January 26
Cabinet Meeting
Florida Governor Charlie Crist and the Cabinet will meet on Tuesday, January 26 at 9:00 a.m. in the Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee. Representatives from the following entities are scheduled to speak:
To view the complete meeting agenda, click here.
Thursday, January 28
Florida Division of Agent and Agency Services Rule Workshop-Penalty Guidelines for Insurance Representatives
The Florida Department of Financial Services, Division of Agent and Agency Services has issued a Notice of Proposed Rulemaking regarding proposed updates to regulations governing the license suspension and revocation of insurance adjusters, agents, customer and service representatives.
The following Rules would be amended:
- 69B-231.030: Definitions
- 69B-231.080: Penalties for Violation of Section 626.611
- 69B-231.100: Penalties for Violation of Subsection 626.9541(1)
- 69B-231.110: Penalties for Violation of Other Specific Provisions of the Florida Insurance Code
- 69B-231.160: Aggravating/Mitigating Factors
The amendments would add regulations recently adopted by the Florida Legislature and delete laws that have been repealed. The penalties for violating certain laws also would be increased to reflect the Florida Department of Financial Services’ experience in dealing with the frequency and severity of these violations.
If requested in writing and not deemed unnecessary by the agency head, a Rule Development Workshop will be held at the date, time and place shown below:
Date: Thursday, January 28, 2010
Time: 9:00 a.m.
Place: Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee
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