Florida Office of Insurance Regulation Could Revise Application Procedures for Risk-Bearing Entities Seeking to Do Business in Florida
May 23, 2017
The Florida Office of Insurance Regulation (“OIR”) is seeking to revise most Rules under Chapter 69O-136 F.A.C. entitled “Application Procedures for Companies Seeking to Do Business in Florida.”
The revisions include the addition of a new Rule–proposed 69O-136.004 F.A.C. relating to Captive Insurers–which would be created under this Chapter.
Rules being considered are:
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Surplus Lines |
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Captive Insurers |
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Domestic Insurers Filing for a Certificate of Authority |
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Forms Adopted |
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Procedure to Amend an Existing Certificate of Authority to Add a New Line of Business |
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Determination of Eligibility to Operate as an Alien Insurer in Florida pursuant to Subsection |
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Registration as a Purchasing Group |
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Registration as a Risk Retention Group |
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Uniform Certificate of Authority Expansion Application |
The OIR, which posted a Notice of Development of Rulemaking today, May 23, 2017, seeks to streamline the application process for risk-bearing entities subject to the Florida Insurance Code, update forms to reflect current practice, as well as to reflect that applications are made by the electronic filing process on the OIR Web site.
A hearing date has not yet been set. The opportunity to submit written comments is also not yet available.
Should you have any questions or comments, please contact Colodny Fass.
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