October 23, 2012: Florida Cabinet Meeting

9:00 a.m.–Florida Cabinet meeting

• OIR
• For final adoption
• Proposed repeal of Rule 69O-142.011, “Insurer Penalty Guidelines,” which establishes penalty guidelines for insurer conduct violations discovered or investigated through financial examinations, market conduct examinations or OIR investigations. Many of the existing fines have become antiquated due to inflation.
• 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.
• Proposed repeal of Rule 69O-198.003, which prohibits any person, entity or administrator from providing or offering to provide service warranties unless authorized through OIR license, 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.