CALENDAR: Insurance-Related Meetings–January 25-29

Jan 25, 2010

 

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 an amended version of 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 agenda, click here.  To view the draft report, click here. 

Details of the meeting are as follows:

Date:     Monday, January 25, 2010
Time:    9:00 a.m. through 4:00 p.m.
Place:    Hermitage Conference Room, Hermitage Centre, 1801 Hermitage Boulevard, Tallahassee
Call-in:  888.808.6959; conference code:  4765251363

 

Complimentary AAMGA Chinese Drywall Webinar On January 25 Features Colodny Fass Insurance Litigator Joel Fass

Colodny Fass Shareholder Joel Fass led 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.

 

 

Monday, January 25 and Tuesday, January 26

 

CANCELED:  Florida Division of Administrative Hearings–FFVA Mutual Insurance Co. v. Florida Office of Insurance Regulation and Financial Services Commission

A hearing regarding Florida’s excess profits law that previously was set for Monday, January 25 and Tuesday, January 26 in the case of FFVA Mutual Insurance Company v. Florida Office of Insurance Regulation and Financial Services Commission has been canceled.  A rescheduled hearing date has not yet been set.

 

 

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.  The following insurance-related Rules are scheduled to be discussed:

  • Financial Services Commission – Office of Insurance Regulation
    • 69O-189.003:  Workers’ Compensation; Application and Audit Procedures
    • 69O-137.002:  Model Audit Rule
    • 69O-157.302, .303 and .304 relating to new business rates for long-term care insurance
  • Florida Hurricane Catastrophe Fund 
    • 19-8.010:  Reimbursement Contract
    • 19-8.012:  Procedures to Determine Ineligibility for Participation in the Florida Hurricane Catastrophe Fund and to Determine Exemption from Participation in the Florida Hurricane Catastrophe Fund due to Limited Exposure
    • 19-8.013:  Revenue Bonds Issued Pursuant to Section 215.555(6), F.S.
    • 19-8.029:  Insurer Reporting Requirements
    • 19-8.030:  Insurer Responsibilities

To view the complete Cabinet meeting agenda, click here.

 

NAIC Accident and Health Policy Experience Subgroup Meeting

The National Association of Insurance Commissioners (“NAIC”) Accident and Health Policy Experience Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Tuesday, January 26 at Noon (EST) to discuss comments from John Engelhardt of the NAIC and Chris Frazier of Employers Mutual Casualty Company.  The registration call-in number is:  412.317.6715. 

 

NAIC Casualty Actuarial and Statistical Task Force Meeting

The NAIC Casualty Actuarial and Statistical Task Force of the Property and Casualty Committee will meet via teleconference on Tuesday, January 26 at 3:30 p.m. (EST) to discuss property and casualty actuarial issues.  The registration call-in number is:  412.317.6715. 

 

 

Wednesday, January 27

 

Florida Department of Revenue Rule Workshop–Insurance Premium Tax

Two Divisions of the Florida Department of Revenue (“DOR”) have issued Notices of Rulemaking Development relating to the regulation of insurance premium taxes.  To access complete information for each proposed Rule, click on the hyperlinks below:

Specifically, the proposed Rules relate to codes in the DOR’s Geographic Names Information System Feature Identifier (“GNIS Feature Identifier”) database that assign insurance policies and premiums to local taxing jurisdictions.  As of October 3, 2009, the DOR has used the GNIS Feature Identifier, along with the Federal Information Processing System 55, to assign communications service addresses and insurance policies and premiums to local taxing jurisdictions.

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:  Wednesday, January 27, 2010
Time:  9:00 a.m.
Place:  Room 118 of the Carlton Building, 501 South Calhoun Street, Tallahassee

 

NAIC Life and Health Actuarial Task Force Meeting

The NAIC Life and Health Actuarial Task Force will meet via teleconference on Wednesday, January 27 at 1:00 p.m. (EST) to discuss guidance on the issue of margins in Valuation Method (“VM”)-20: Requirements for Principles-Based Reserves for Life Products.  The registration call-in number is:  412.317.6715. 

 

DOR Rule Hearing–Florida Tax Credit Scholarship Program Expanded To Allow Insurers

The DOR, Division of Corporate, Estate and Intangible Tax has issued a Notice of Proposed Rule relating to the following proposed Rules that would allow a tax credit against insurance premium tax for insurers that contribute to certain non-profit funding organizations:

  • 12C-1.0186:  Credit for Florida Alternative Minimum Tax
  • 12C-1.0187:  Credits for Contributions to Nonprofit Scholarship Funding Organizations
  • 12C-1.051:  Forms

Amendments to 12C-1.0186 also reflect related statutory changes to the method used in calculating the alternative minimum tax credit.

If requested in writing and not deemed unnecessary by the agency head, a Rule Hearing will be held at the date, time and place shown below:

Date:  Wednesday, January 27, 2010
Time:  1:30 p.m.
Place:  Room 118 of the Carlton Building, 501 South Calhoun Street, Tallahassee

 

NAIC Life Risk-Based Capital Working Group Meeting

The NAIC Life Risk-Based Capital Working Group of the Financial Condition Committee will meet via teleconference on Wednesday, January 27 at 2:00 p.m. (EST) to discuss a replacement for the mortgage experience adjustment factor.  The registration call-in number is:  412.317.6715. 

 

 

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

 

NAIC Life and Health Actuarial Task Force Meeting

The NAIC Life and Health Actuarial Task Force will meet via teleconference on Thursday, January 28 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 29

 

FWCJUA Investment Committee Meeting

The Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) Investment Committee will meet via teleconference on Friday, January 29 at 10:00 a.m. 

 

NAIC Climate Change and Global Warming Task Force Meeting

The NAIC Climate Change and Global Warming Task Force of the Property and Casualty Committee will meet via teleconference on Friday, January 29 at 11:00 a.m. (EST) to review comments received on the climate risk disclosure documents and discuss logistics for distribution of the Climate Risk Disclosure Survey.  The registration call-in number is:  412.317.6715. 

 

NAIC VM PBR Reporting and Review Subgroup Meeting

The NAIC Valuation Method Principles-Based Reserve Reporting and Review Subgroup of the Life and Health Actuarial Task Force will meet via teleconference on Friday, January 29 at Noon (EST) to discuss VM-30:  Actuarial Opinion and Memorandum Requirements and VM-31:  Reporting and Documentation Requirements for Business Subject to a Principles-Based Reserve Valuation.  The registration call-in number is:  412.317.6715. 

 

 

LOOKING AHEAD

 

 

Tuesday, February 9

 

Florida Department of Financial Services Rule Hearing–Insurer Annual Report Card

The Rule Hearing originally scheduled to be held January 4 on a mandated annual insurer report card has been rescheduled for February 9.  Corrections to the previous versions of the Rules also have been issued to amend the names and numbering of Rules within the applicable chapter of the Florida Administrative Code.

The Rules pertain to a mandated annual insurer report card that would be used by the Office of the Florida Insurance Consumer Advocate in grading authorized Florida residential property insurers.

The new Rule Chapter has been changed from 69O-236 to 69M-236.  The related numbers and titles have been amended as follows:

  • 69M-236.001:  Purpose
  • 69M-236.002:  Definitions
  • 69M-236.003:  Methodology
  • 69M-236.004:  Limitations and Exclusions
  • 69M-236.005:  Data Sources

The rescheduled Rule Hearing will be held at the date, time and place shown below:

Date:  Tuesday, February 9, 2010
Time:  9:30 a.m.
Place:  Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee

The Notice of Change referencing the amended Rule numbers can be viewed by clicking here.

 

 

Wednesday, February 10

 

OIR Public Rate Hearing

The Florida Office of Insurance Regulation (“OIR”) will hold a public rate hearing on Wednesday, February 10 at 1:00 p.m. in Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee regarding recent rate and form filings made by First Home Insurance Company.

 

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