Florida Insurance Calendar: July 25 – 29

 

Following is a listing of insurance-related Florida regulatory events for the week of July 25-29, 2011:

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

 

FLORIDA INSURANCE REGULATORY EVENTS

 

Monday, July 25

• Florida Insurance Guaranty Association Finance and Audit Committee meeting; 10:30 a.m.  To view the meeting notice, click here.

Tuesday, July 26

• Florida Office of Insurance Regulation (“OIR”) Proposed Rule Hearing; 9:30 a.m.
  • 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.  To view the hearing notice, click here.
  • 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.  To view the hearing notice, click here.
  • 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.  To view the hearing notice, click here
• Citizens Property Insurance Corporation (“Citizens”) Actuarial and Underwriting Committee meeting; 10:00 a.m.  Teleconference:  866-361-7525; conference code:  8632017402#.  To view the meeting notice, click here.
• Florida Division of Insurance Agent and Agency Services (“IAAS”) Proposed Rule Hearing; 11:00 a.m.  Proposed Rule 69B-215.235 would set standards for the use and representation to consumers of professional designations or certifications by licensees engaged in the marketing and sale of insurance products.  To view the Hearing notice, click here.

Wednesday, July 27

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

 

LOOKING AHEAD

 

Monday, August 1

• Florida Division of Workers’ Compensation Rule Development Workshop; 10:00 a.m.  To view the meeting notice, click here.
  • Rule 69L-5.205: Loss Data Reporting
    • Proposed Rule amendments would clarify that former self-insurers must report loss data for the final period of authorization only once.
  • Rule 69L-5.217: Civil Penalties and Fines
    • Proposed Rule amendments would reduce the penalties assessed against self-insurers for late filing of required forms, reports and documents and also recalculate penalties that were assessed against a self-insurer.  

Tuesday, August 2

• Florida Cabinet meeting; 9:00 a.m. 
  • State Board of Administration; to view the meeting notice, click here.
    • Request to appoint a Chair for the Florida Commission on Hurricane Loss Projection Methodology
    • Authorization the Florida Hurricane Catastrophe Fund to file a Notice of Proposed Rule to repeal Rule 19-8.001, F.A.C., “Purpose,” and a Notice of Proposed Rule to repeal Rule 19-15.001, F.A.C., “Insurance Capital Build-Up Incentive Program,” and to authorize filing these rules for repeal if no member of the public requests a timely rule hearing
• OIR Rule Hearing; 9:30 a.m.  Amendments to Rule 69O-138.001, “NAIC Financial Condition Examiners Handbook Adopted” would adopt the 2010 and 2011 NAIC Financial Condition Examiners Handbooks.  To view the Hearing notice, click here.
• 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 4

• 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.

Tuesday, August 9

• 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.
• 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.

Tuesday, August 16

• Florida Cabinet meeting; 9:00 a.m.
  • OIR
    • 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 information to consumers regarding the circumstances under which an annuity contract may be cancelled for an unconditional refund, as well as specific cautionary language informing consumers of the risks, policy features and contact sources for additional information or complaints.  To view the hearing notice, click here.

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.  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.  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) Florida Workers’ Compensation Joint Underwriting Association (“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.

Tuesday, August 30

• 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 Annual Membership and Board of Governors 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.

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.

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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