Insurance-Related Administrative Actions: Week Ending September 5

The following insurance-related administrative actions were posted in the Friday, September 5, 2008, edition of Florida Administrative Weekly.

Notice of Change and Related Hearing: Marketing Communication Material and Marketing Guidelines

A Notice of Change was issued by the Florida Office of Insurance Regulation (“OIR”) for Rule 69O-149.041: Marketing Communication Material and Marketing Guidelines.

Note: The OIR has scheduled a hearing on October 1, 2008 at 9:30 a.m. to receive comments from the public and regulated entities on the above Notice of Change for this Rule.

Place: Room 116, Larson Building, 200 East Gaines, Tallahassee, Florida

Notice of Withdrawl: Filing of Forms and Rates for Life/Health Insurance

A Notice of Withdrawal was issued by the OIR for the following Rules:

• 69O-149.003: Rate Filing Procedures
• 69O-149.005: Reasonableness of Benefits in Relation to Premiums
• 69O-149.007: Annual Rate Certification Filing Procedures

Notice of Rulemaking Development: Credit Life and Credit Disability Insurance

A Notice of Development of Rulemaking was issued by the OIR for the following Rules:

• 69O-163.0075: Term and Evidence of Insurance
• 69O-163.009: Determination of Reasonableness of Benefits in Relation to Premium Charge
• 69O-163.011: Credit Disability Insurance Rates

Rule Chapter 69O-163, Credit Life and Credit Disability Insurance, is being amended to address the statutory changes contained in House Bill 343, which the Governor approved on May 28, 2008. The bill removes $50,000 for credit life, but did not remove the 10-year limit that is still contained in Florida law. Similarly, the bill removed the 10-year limit for credit disability, but did not remove the $50,000 limit that is still contained in the statute. The hearing will address the stipulation that a term of insurance shall not exceed 10 years subject to certain restrictions under the term and evidence of credit life insurance is now gone. The revised Rule effectuates a 10-year cap for credit life insurance uniformly from the date of issue. Also, the Rule extinguishes the requirement of providing the lesser of 60 monthly payments or the number of monthly payments for the full term of the loan.

If requested in writing and not deemed unnecessary by the OIR, a Rule Development Workshop will be held on September 30, 2008 at 1:30 p.m.

FINAL ADOPTED RULES

Effective Date September 2, 2008

• 19-8.010: Reimbursement Contract

All Rules Below are effective September 16, 2008

• 69O-167.004: Required Pre-Insurance Inspection of Private Passenger Motor Vehicles
• 69O-157.117: Prohibition Against Preexisting Conditions and Probationary Periods in Replacement Policies or Certificates
• 69O-157.114: Filing Requirements for Out-of-State Groups
• 69O-157.104: Policy Practices and Provisions
• 69O-157.004: Out-of-State Group Long-Term Care Insurance
• 69O-203.070: Annual and Quarterly Reports

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

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