Florida Insurance Calendar: November 5 – 9

 

Following is a listing of Florida insurance-related regulatory events for the week of November 5-9, 2012:

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

    

Tuesday, November 6

• Florida Insurance Guaranty Association (“FIGA”) Finance and Audit Committee meeting; 12:30 p.m.  Tampa, Florida.  To view the meeting notice, click here.
• FIGA Board of Directors meeting; 2:00 p.m.  Tampa, Florida.  To view the meeting notice, click here.

Thursday, November 8

• Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) Investment Committee meeting; 4:00 p.m.  To view the agenda, click here.

 

LOOKING AHEAD

 

Tuesday, November 13

• State Board of Administration Audit Committee meeting; 9:00 a.m. to 12:00 p.m.  Tallahassee, Florida.  To view the meeting notice, click here.
• Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) Workgroup meeting; 9:30 a.m.  Tallahassee, Florida.  Agenda includes discussion of issues and concerns resulting from recent insolvencies, including large deductible policies, collateral and employee leasing policies.  To view the meeting notice, click here.

Thursday, November 15

• FWCJUA Audit Committee meeting; 10:00 a.m.  To view the agenda, click here.
• Citizens Property Insurance Corporation (“Citizens”) Investment Committee meeting; 1:00 p.m.  Teleconference:  866-361-7525; conference code:  4869641229#.  To view the meeting notice, click here.

Tuesday, November 27

• Citizens Board of Governors Workshop; 11:00 a.m. to 4:00 p.m.  Teleconference:  888-942-8686; conference ID:  5743735657#.  To view the meeting notice, click here.

Wednesday, November 28

• FWCJUA Rates and Forms Committee meeting; 2:00 p.m.  To view the meeting notice, click here.
• Florida Board of Employee Leasing Companies (“BELC”) Board Meeting; 1:00 p.m.  Orlando, Florida.  To view the meeting notice, click here.

Thursday, November 29

• BELC Board Meeting; 9:00 a.m. Orlando, Florida.  To view the meeting notice, click here.
• FWCJUA Reinsurance Committee meeting; 10:00 a.m.  Additional information is forthcoming.
• FWCJUA Operations Committee meeting; 2:00 p.m.  To view the agenda, click here.
• FWCIGA meetings.  The Investment, as well as the Audit Committees are scheduled to meet.  To view the meeting notice, click here.

Friday, November 30

• FWCIGA Board of Directors meeting.  To view the meeting notice, click here.

Tuesday, December 11

• Florida Cabinet meeting; 9:00 a.m.
  • Florida Office of Insurance Regulation (“OIR”)
    • For final adoption
      • Proposed repeal of Rule 69O-143.045, which was originally promulgated in the 1970s and defines a list of domestic insurer-related terms, many of which are now inconsistent with portions of the Florida Insurance Code.
      • Rule 69O-164.030, entitled “Application of Rule 69O-164.020 to Various Product Designs,” has been deemed unnecessary by the OIR and is proposed for repeal.
      • Proposed amendments to Rule 69O-149.003, “Rate Filing Procedures,” delete the maximum annual medical trend tables from the text of the Rule and provides the URL of the OIR’s Website on which the tables will be published and updated as needed. Proposed amendments to Rule 69O-137.001 would adopt the 2011 National Association of Insurance Commissioners (“NAIC”) Quarterly Statement Instructions and the 2011 NAIC Accounting Practices and Procedures Manual.
      • Proposed amendments to Rule 69O-138.001 would adopt the 2012 NAIC Financial Condition Examiners Handbook. The current Rule adopted the 2011 version. To view the hearing notice, click here.
      • Proposed repeal of Rule 69O-198.003, which prohibits any person, entity or administrator from providing or offering to provide service warranties, unless licensed by the OIR, because it is a restatement of Section 634.403, F.S. and, therefore, unnecessary. Proposed repeal of Rule 69O-170.012, which prohibits insurers from non-renewing or canceling property insurance policies “on the basis of filing of claims for partial loss caused by sinkhole damage or clay shrinkage.” Legislative changes have caused this Rule to become antiquated and unnecessary.
      • Proposed amendments to Rule 69O-149.022 would update and edit the contents of the forms and instructions used by life and health insurers to make electronic form filings via the OIR’s I-File system. 
      • Proposed repeal of Rule 69O-157.105, “Refund of Premium,” which requires long-term care insurers that cancel an insurance policy to refund to the policyholder any unearned premium paid to the insurer.  This Rule substantially restates the language of Section 627.6645(4), F.S. and is considered unnecessary.
      • Proposed repeal of Rule 69O-157.018, “Right to Return Policy-Free Look,” which requires individual long-term care insurers to give policyholders 30 days to examine a policy after delivery, and to return the policy for a full refund of premium if not satisfied for any reason.  This Rule substantially restates the language of Section 627.9407(8), F.S. and is considered unnecessary.
      • Proposed repeal of Rule 69O-185.005, “Advertisement of Mortgage Insurance,” which prohibits insurers from insuring mortgages offered for sale to the public by advertisements that expressly or impliedly represent that the worth, value or safety of the mortgage investment arises by virtue of the proposed mortgage guaranty insurance rather than by virtue of the value of the underlying security, or which stress the fact that the mortgage guarantee insurance is regulated by an agency of the State or Federal Government.  This Rule substantially restates the language of Section 635.071(3), F.S. and is considered unnecessary. 
      • Proposed repeal of Rule 69O-196.008, “Failure to Comply,” pertaining to premium finance companies.  This Rule substantially restates the language of Sections 627.832 and 627.833, F.S. and is considered unnecessary. 

• Citizens Information Systems Advisory Committee meeting; 2:00 p.m.  Teleconference:  866-361-7525; conference ID:  4869641229#.  To view the agenda, click here.

Wednesday, December 12

• FWCJUA Board of Governors meeting; 10:00 a.m.  Additional information is forthcoming.

Friday, December 14

• Citizens Board of Governors meeting; 9:00 a.m. to 12:00 p.m.  Teleconference: 888-942-8686; participant code: 5743735657#.  To view the meeting notice, click here.

Wednesday, December 19

• BELC Board meeting; Tampa, Florida.

 

 

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