Florida Insurance Calendar: August 8 – 12

 

Following is a listing of insurance-related Florida regulatory events for the week of August 8-12, 2011:

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

 

FLORIDA INSURANCE REGULATORY EVENTS

  

Tuesday, August 9

• Florida Surplus Lines Service Office (“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.

Thursday, August 11

• 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.
• Florida Division of Insurance Agent and Agency Services (“IAAS”) Rule Development Workshop; 11:00 a.m.  Proposed Rule 69B-221.155 would adopt four forms to be used by the bail bond industry.  To view the hearing notice, click here.

 

LOOKING AHEAD

 

Tuesday, August 16

• Florida Cabinet meeting; 9:00 a.m.
  • Florida Office of Insurance Regulation (“OIR”); to view the hearing notice, click here.
    • For final adoption
      • 69O-137.001: Annual and Quarterly Reporting Requirements
• 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.
• IAAS Proposed Rule Hearing; 10:30 a.m.  Amendments to proposed Rule 69B-162.011 would reflect certain provisions of Section 626.99(4)(c), F.S., which requires cover pages for fixed and variable annuity contracts.  The cover pages must include consumer information about the circumstances under which an annuity contract may be cancelled for an unconditional refund, as well as specific cautionary language informing consumers of the policy risks, features and related contact sources for additional information or complaints.  To view the hearing notice, click here.
• Florida Department of Revenue (“DOR”) Rule Development Workshop; 1:30 p.m.
  • The proposed Rules (below) would remove provisions regarding the emergency excise tax repealed effective January 1, 2012, by Section 22, Chapter 2011-76, L.O.F.,; incorporate changes to forms used by the DOR in the administration of the insurance premium taxes, fees, and surcharges; and remove obsolete or unnecessary provisions.  To view the hearing notice, click here.
    • 12B-8.001:  Premium Tax; Rate and Computation
    • 12B-8.0012:  Insurance Policy Surcharge; Rate and Computation
    • 12B-8.003:  Tax Statement; Overpayments
    • 12B-8.006:  State Fire Marshal Regulatory Assessment and Surcharge; Levy and Amount
    • 12B-8.007:  Deposit of Certain Tax Receipts; Refund of Improper Payments
    • 12B-8.016:  Retaliatory Provisions
  • The proposed Rules (below) would incorporate changes to the Florida Tax Credit Scholarship Program made by Chapter 2011-123, L.O.F., which extends the period for which authorized tax credits may be taken from three years to five years, eliminates the 75 percent limitation on the corporate income tax and insurance premium tax credits, and allows taxpayers who have previously rescinded a tax credit more than once to obtain approval to rescind an outstanding tax credit.  To view the hearing notice, click here.
    • 12-29.002:  Florida Tax Credit Scholarship Program; Participation; Allocation; Carryforward; Rescindment
    • 12-29.003:  Florida Tax Credit Scholarship Program; Applications

Wednesday, August 17

• Florida Commission on Loss Projection Methodology (“FCHLPM”) meeting; 9:00 a.m. to 4:00 p.m.  Discussion of 2011 Standards and Procedures and review of the 2011 Florida Public Hurricane Loss Model under the Standards and Acceptability process for 2009.  To view the meeting notice, click here.
• Florida Board of Employee Leasing Companies (“BELC”) Board Meeting; 10:00 a.m.  Teleconference:  888-808-6959; conference code:  9226020.  To view the meeting notice, click here.

Thursday, August 18

• FCHLPM meeting; 9:00 a.m. to 4:00 p.m.  Continuation of 2011 Standards and Procedures discussion and review of the 2011 Florida Public Hurricane Loss Model under the Standards and Acceptability process for 2009.  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.
• (CANCELED) FWCJUA Audit Committee meeting; 10:00 a.m.  To view the meeting notice, click here.

Friday, August 19

• (CANCELED) FWCJUA Investment Committee meeting; 10:00 a.m.  To view the meeting notice, click here.

Tuesday, August 23

• 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.
• Florida Self-Insurers Guaranty Association Board meeting; 3:00 p.m.

Thursday, August 25

• 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.

Monday, August 29

• IAAS Proposed Rule Hearing; 10:00 a.m.  Repeal of Rule 69B-125.004, relating 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 OIR.  To view the hearing notice, click here.

Tuesday, August 30

• Florida Cabinet meeting; 9:00 a.m.
  • OIR
    • For final adoption
      • 69O-164.020: Valuation of Life Insurance Policies
        • Rule amendments would revise the 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-138.047: 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. 
• 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.

Wednesday, September 7

• FWCJUA Investment Committee meeting; 10:00 a.m.  To view the meeting notice, 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 15

• FWCJUA Operations Committee meeting; 10:00 a.m. To view the meeting notice, click here.

Wednesday, September 21

• BELC Board Meeting; 10:00 a.m.  To view the meeting notice, click here.

Tuesday, September 27

• FWCJUA Annual Membership and Board of Governors Meeting; 10:00 a.m.  To view the meeting notice, click here.

Wednesday, September 28

• Citizens Property Insurance Corporation (“Citizens”) Board of Governors meeting; 9:00 a.m.  Teleconference:  888-942-8686; conference code:  8419204389#.  To view the meeting notice, click here.

Thursday, September 29

• Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) Investment Committee meeting
• FWCIGA Board of Governors meeting

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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