Florida Insurance Calendar: June 28-July 2

Following is a listing of insurance-related Florida regulatory events for the week of June 28 – July 2, 2010:

Note:  All times are Eastern Time.  Additional information is available via hyperlink were noted in bold type.

  

FLORIDA INSURANCE REGULATORY EVENTS   

 

Tuesday, June 29

• Florida Office of Insurance Regulation (“OIR”) Rule Development Workshop; 9:30 a.m.
  • Proposed Rule 69O-138.047: Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Issues Summary; would adopt changes to 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 meeting notice, click here.
  • Proposed Rule 69O-162.203:  Adoption of 2001 Commissioners Standard Ordinary Preferred Mortality Tables for Determining Reserve Liabilities for Ordinary Life Insurance; in relation to life insurance reserves, would adopt changes to the NAIC Model Regulation and explain the conditions for use of the preferred class structure mortality tables and to permit use of the mortality tables for policies issued prior to the adoption date of the original Rule.  To view the meeting notice, click here. 
  • Proposed Rule 69O-164.020: Valuation of Life Insurance Policies; in relation to life insurance reserves, would adopt changes to the NAIC Model Regulation reducing the minimum premium deficiency reserve requirement, subject to certain conditions to ensure adequacy of reserves.  To view the meeting notice, click here. 
• Florida Division of Workers’ Compensation (“DWC”) Rule Development Workshop; 1:00 p.m.  Proposed Rule 69L-6.007:  Compensation Notice.   The proposed Rule would revise the workers’ compensation “broken arm posters” and provide for the inclusion of a Spanish version of the poster.  To view the meeting notice, click here.
• National Association of Insurance Commissioners (“NAIC”) Casualty Actuarial and Statistical Task Force; 2:00 p.m.  

 

LOOKING AHEAD

 

Wednesday, July 7

• Citizens Property Insurance Corporation (“Citizens”) Actuarial and Underwriting Committee; 2:00 p.m.  Teleconference:  866-631-2413.  To view the meeting notice, click here.

Tuesday, July 13

• OIR Rule Hearing; 9:30 a.m.  Proposed Rule 69O-167.024:  Rate Filings for Inland Marine Insurance.  The proposed Rule would effects non-substantive statutory changes to ensure compliance with Section 627.021, F.A.C.  To view the meeting notice and proposed Rule text, click here.
• OIR Public Rate Hearing:  Nationwide Insurance Company of Florida; 1:00 p.m.  Agenda forthcoming.
• Florida Insurance Guaranty Association Board of Directors; 2:00 p.m.  To view the meeting notice, click here.
• NAIC Financial Condition Committee; 2:00 p.m.  Teleconference:  412-317-6715

Thursday, July 15

• DWC Rule Development Hearing; 2:00 p.m.  Proposed Rule 69L-6.021: Construction Industry Classification Codes, Descriptions and Operations Scope of Exemption.  The proposed Rule amendment adds and deletes certain construction-related discontinued class codes and revises their descriptions as published in the Florida exception pages of the National Council on Compensation Insurance, Inc. Basic Manual (January 2010 edition).  To view the meeting notice and proposed Rule text, click here.
• DWC Proposed Rule Hearing; 10:00 a.m. 69L-6.026: Periodic Reports.  The proposed Rule provides guidance to employers on quarterly reports that must be submitted to the DWC following an employer’s conditional release from a Stop-Work Order for violation of statutory coverage requirements where an assessed penalty exceeds $50,000.00.  Following the conditional release from Stop-Work Order, subject employers are to utilize new form DFS-F4-2018 to file quarterly reports to document their ongoing compliance with the coverage requirements of Chapter 440, F.S.  To view the meeting notice and proposed Rule text, click here.

Wednesday, July 21

• Florida Board of Employee Leasing Companies (“BELC”); 10:00 a.m. Teleconference:  888-808-6959; conference code:  9226020

Monday, July 26

• Citizens Board of Governors meeting; 2:00 p.m.  Teleconference:  888-295-6211 (NOTE:  This meeting was rescheduled from June 28, 2010.)

Tuesday, July 27

• OIR Proposed Rule Hearing; 69O-137.002: Annual Audited Financial Reports.  (NOTE:  This is a continuation from June 8.  To view the original Rule Hearing notice and proposed Rule text, click here.)

Friday, July 30

• Florida Division of Insurance Agents and Agency Services Proposed Rule Hearing to update Florida regulations relating to public adjusters; 10:00 a.m.  To view the complete text of each proposed Rule, click here. 
  • Proposed amendments to 69B-220.001 – Licensure of Emergency Adjusters define when an “emergency” exists and provide the procedures to obtain an online emergency adjuster license from the Florida Department of Financial Services.
  • Proposed amendments to 69B-220.051 – Conduct of Public Adjusters and Public Adjuster Apprentices clarify the responsibilities and requirements of public adjusters and public adjuster apprentices, specify terms and conditions of public adjuster contracts, require a public adjuster license number on advertisements and prescribe practices to ensure fair dealing between public adjusters and claimants.
  • Proposed changes to 69B-220.201 – Ethical Requirements for All Adjusters update the code of ethics for all adjusters, clarify their ethical responsibilities and requirements and provide other special ethical requirements for public adjusters.

Wednesday, August 18

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

Thursday, August 19

• Florida Workers Compensation Joint Underwriting Association (“FWCJUA”) Audit Committee; 10:00 a.m.

Friday, August 20

• FWCJUA Investment Committee; 10:00 a.m.

Wednesday, August 25

• Citizens Audit Committee; 2:30 p.m.  Teleconference:  877-260-2826
• Citizens Finance and Investment Committee; 4:00 p.m.  Teleconference:  888-277-7951

Thursday, August 26

• Citizens Board of Governors meeting; 9:00 a.m.  Teleconference:  (888) 295-6211

Monday, August 30

• FWCJUA Operations Committee; 10:00 a.m.

 

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

 

 

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