Florida Insurance Calendar: August 29 – September 2

 

Following is a listing of insurance-related Florida legislative and regulatory events for the week of August 29 – September 2, 2011:

All times are Eastern Time (“ET”).  Additional information is available via hyperlink where noted in bold type.

 

 

FLORIDA INSURANCE LEGISLATIVE EVENTS

 

 

In advance of the 2012 Florida Regular Legislative Session, 2011-2012 Interim Committee Meetings are scheduled to begin the week of September 19, 2011.  No further information is available at this time.

 

 

 

 

FLORIDA INSURANCE REGULATORY EVENTS

 

Monday, August 29

• Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) Investment Committee meeting; 2:00 a.m.  Agenda includes a discussion on the impact of recent rating agency downgrades.  To view the meeting notice, click here.
• Florida Division of Insurance Agent and Agency Services (“IAAS”) Proposed Rule Hearing; 10:00 a.m.  Repeal is proposed for Rule 69B-125.004, which relates to credit report use and disclosure in consideration of insurance applications, since it is duplicative of Rule 69O-125.004, which is administered by the Florida Office of Insurance Regulation (“OIR”).  To view the hearing notice, click here.
• (CANCELED)  National Association of Insurance Commissioners (“NAIC”) 2011 Summer National Meeting; Philadelphia, Pennsylvania.  August 20 through September 1.

Tuesday, August 30

• Florida Surplus Lines Service Organization (“FSLSO”) National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.

Wednesday, August 31

• Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) Reinsurance Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.

Thursday, September 1

• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.

 

LOOKING AHEAD

 

 

Tuesday, September 6

 

• Florida Insurance Guaranty Association Board of Directors meeting; 10:00 a.m.
• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.

Wednesday, September 7

• FWCJUA Investment Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.
• IAAS Proposed Rule Hearing; 10:30 a.m.  Proposed Rule 69B-221.010 would provide guidelines that distinguish between the specific activities a bail bond agent whose license is under a temporary order of suspension may perform while discharging liability on previously effected bonds, and those actions that shall constitute unlicensed activity.  To view the hearing notice, click here.

Thursday, September 8

• OIR Public Rate Hearing:  Fidelity Fire and Casualty Company and First Protective Insurance Company; 9:00 a.m.  Proposed average statewide rate increases of 24.8 percent for the dwelling fire programs would be effective October 9, 2011 for new and renewal business.  To view the hearing notice, click here. 
• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• FWCJUA Audit Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.
• FWCJUA Rates and Forms Committee meeting; 1:00 p.m.  To view the meeting notice, click here. 
• Florida Department of Financial Services (“DFS”) Money Service Workers’ Compensation Fraud Work Group meeting; 2:00 p.m. to 5:00 p.m.  To view the meeting notice, click here.

Monday, September 12

• Florida Automobile Joint Underwriting Association (“FAJUA”) Finance and Audit Committee meeting; 3:00 p.m.  To view the meeting notice, click here.
• FAJUA Budget Committee meeting; 4:00 p.m.  To view the meeting notice, click here.

Tuesday, September 13

• FAJUA Board of Governors Meeting; 8:30 a.m.  To view the meeting notice, click here.
• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• OIR Public Rate Hearing at Tampa Convention Center:  Citizens Property Insurance Corporation (“Citizens”); 4:00 p.m. to 10:00 p.m.  Proposed statewide average rate increases for Citizens’ homeowners line of business (including sinkhole coverage).  Agenda is forthcoming.

Thursday, September 15

• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• FWCJUA Operations Committee meeting; 10:00 a.m.  To view the meeting notice, click here.

Tuesday, September 20

• Florida Cabinet meeting; 9:00 a.m.
  • OIR
    • For final adoption
      • 69O-164.020: Valuation of Life Insurance Policies
        • Rule amendments would revise the National Association of Insurance Commissioners (“NAIC”) Model Regulation that reduce the minimum premium deficiency reserve requirement, subject to certain conditions to ensure adequacy of reserves.
      • 69O-162.203: Adoption of 2001 Commissioners Standard Ordinary Preferred Mortality Tables for Determining Reserve Liabilities for Ordinary Life Insurance
        • Rule amendments would revise the NAIC Model Regulation, explain the conditions for use of the preferred class structure mortality tables and permit use of the mortality tables for policies issued prior to the adoption date of the original Rule.
      • 69O-138.001: NAIC Financial Condition Examiners Handbook Adopted
        • Rule amendments would adopt the newest version of the NAIC Financial Condition Examiners Handbook used in examining insurers’ financial conditions
      • 69O-138.047: Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Issues Summary
        • Rule amendments would revise the NAIC Model Regulation by adding an additional requirement to the Regulatory Asset Adequacy Issues Summary as a result of changes to Rules 69O-162.203 and 69O-164.020, F.A.C.
    • For publication
      • 69O-189.007: Insurer Experience Reporting – Excessive Profits, Workers’ Compensation Insurance
        • Rule amendments would revise Form OIR-B1-15, “Workers’ Compensation Excessive Profits,”
• OIR Proposed Rule Hearing; 9:30 a.m. Consideration of revisions to Form OIR-B1-1802, “Uniform Mitigation Verification Inspection Form,” which is incorporated by Rule 69O-170.0155. To view the hearing notice, click here.
• FSLSO National Clearinghouse Committee meeting; 10:00 a.m. Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse. To view the meeting notice, click here.

Wednesday, September 21

• Florida Board of Employee Leasing Companies (“BELC”) meeting; 10:00 a.m.  To view the meeting notice, click here.

Thursday, September 22

• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• DFS Money Service Workers’ Compensation Fraud Work Group meeting; 2:00 p.m. to 5:00 p.m.  To view the meeting notice, click here.

Tuesday, September 27

• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• FWCJUA Annual Membership and Board of Governors Meeting; 10:00 a.m.  To view the meeting notice, click here.

Wednesday, September 28

• Citizens Board of Governors meeting; 9:00 a.m.  Teleconference:  888-942-8686; conference code:  8419204389#.  To view the meeting notice, click here.
• OIR Rule Development Workshop; 9:30 a.m.  Amendments to Rule 69O-137.001 would adopt the 2011 NAIC Quarterly Statement Instructions and the 2011 NAIC Accounting Practices and Procedures Manual.  To view the hearing notice, click here.

Thursday, September 29

• FSLSO National Clearinghouse Committee meeting; 10:00 a.m.  Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse.  To view the meeting notice, click here.
• FWCIGA Investment Committee meeting.
• FWCIGA Board of Governors meeting.

Thursday, October 6

• DFS Money Service Workers’ Compensation Fraud Work Group meeting; 2:00 p.m. to 5:00 p.m.  Fletcher.  To view the meeting notice, click here.

Wednesday, October 19

• BELC Board Meeting; 10:00 a.m.  Teleconference:  888-808-6959; conference code:  9226020.  To view the meeting notice, click here.

 

Should you have any questions or comments, please contact Colodny Fass.

 

 

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