Florida Insurance Calendar: Week of February 8-12

 

A listing of insurance-related regulatory meetings for the week of February 8-12 is listed below.  No insurance-related legislative meetings have been scheduled during this time period.

Note:  All times are Eastern Standard Time and additional information is available via hyperlink were noted in boldface.

 

Tuesday, February 9

Florida Department of Financial Services (“DFS”):  Office of the Florida Insurance Consumer Advocate Rule Hearing–Annual Report Card
A Rule Hearing on an annual report card for residential property insurers to be used by the Office of the Florida Insurance Consumer Advocate took place today at 9:30 a.m.   The proposed Rules outline the procedure by which insurers would be graded and adopt the form by which the results are presented.  To view the meeting notice and additional information on previously corrected items in the proposed Rules, click here. 

TO BE RESCHEDULED:  State Board of Administration of Florida (“SBA”)–Florida Hurricane Catastrophe Fund
The SBA Trustees will address and take action on raising additional revenue to fund the obligations, costs and expenses of the Florida Hurricane Catastrophe Fund and the Florida Hurricane Catastrophe Fund Finance Corporation.  A new meeting date has not yet been announced.

 

Wednesday, February 10

Florida Office of Insurance Regulation (“OIR”):  First Home Rate Hearing
The OIR has scheduled a public rate hearing for First Home Insurance Company on February 10 at 1 p.m.  To view the agenda, click here.

 

Looking Ahead . . . .

 

Monday, February 15

Florida DFS:  Division of Insurance Agents and Agency Services Rule Development Hearing
A DFS Division of Insurance Agents and Agency Services Rule Development Hearing has been scheduled for February 15 at 2:00 p.m. to address the following proposed Rules:

• 69B-215.080: Immigration Bonds would clarify that a general lines (2-20) agent license is required to transact surety bond business (including immigration bonds) and that a general lines agent license does not qualify the licensee to transact bail bond business.
• 69B-221.006: Immigration Bonds Exclusion would clarify that a limited surety (bail bond) (2-34) agent license does not authorize the licensee to transact immigration bond business unless the licensee also has a general lines agent license.

 

February 16, 17 and 18 

Citizens Property Insurance Corporation (“Citizens”)
The following Citizens Board and Committee meetings are scheduled (call-in information is included in the hyperlink):

• Information Systems Advisory Committee Meeting
  February 16 at 2:00 p.m.
• Audit Committee Meeting
  February 17
• Finance and Investment Committee Meeting 
  February 17
• Actuarial and Underwriting Committee Meeting
  February 17 at 10:00 a.m.
• Board of Governors Meeting—RESCHEDULED to March 18 at 10:30 a.m.
  February 18 at 9:00 a.m.

 

Monday, February 22

OIR Development of Rulemaking–Workers’ Compensation Excessive Profits 
An OIR Rule Development Workshop has been scheduled for February 22 at 1:00 p.m. for proposed Rule 69O-189.007: Insurer Experience Reporting – Excessive Profits, Workers’ Compensation Insurance.  To view the meeting notice, click here.

 

Wednesday, February 24

Florida Workers’ Compensation Joint Underwriters Association (“FWCJUA”) Board of Governors
The FWCJUA Board of Governors is scheduled to meet via teleconference on February 23 at 10:00 a.m. 

Florida Cabinet
The Florida Cabinet is scheduled to meet on February 24 at 9 a.m..  The Cabinet’s OIR agenda will include Proposed Rule 69O-170.0155: Forms for final adoption.  Florida law requires the OIR to develop the form for use by home inspectors in verifying the presence of windstorm-mitigation features on policyholder’s property, so that insurers can calculate appropriate discounts. This form, OIR-B1-1802, is being revised to expand the descriptions of the construction feature to be inspected.  Also, in response to concerns about fraudulently completed forms, it will require photographic documentation of certain construction features and the signatures of the homeowner, the inspector and the qualified person certifying the inspection. 

The OIR is also required to adopt a form to be used by insurers to notify applicants and policy holders of premium discounts for actions taken to mitigate the impact of hurricanes.  Rule 69O-170.0155 is being amended to adopt a revised version of OIR-B1-1655, “Notice of Premium Discounts for Hurricane Loss Mitigation.”  This form is being revised based on changes to the My Safe Florida Home program, as well as the experience of the OIR, insurers and policyholders since the form’s last revision in July 2007.

 

 

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

 

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