OIR Issues Details On Changes to QUASR Electronic Filing Process
Feb 23, 2009
The Florida Office of Insurance Regulation (“OIR”) issued an informational memorandum on Friday, February 20, 2009 to all residential property insurers operating in the State of Florida that details recent changes to the electronic filing process for Quarterly Supplemental Reports (“QUASR”).
Additional data now is required relating to policies that are transferred to (or received from) other insurers during the reporting month. Reporting requirements for premium exposure values have been expanded to separate the amounts attributed to policies that include wind coverage from those that do not. The policy reporting categories have been changed as well.
Along with active residual market entities providing residential property coverage, the following additional insurers are required to file QUASRs:
- Property and Casualty Insurers
- Commercial Self-Insurance Trust Funds
- Industrial Insured Captive Insurers
- Reciprocal Insurers
The OIR’s informational memorandum, updated filing template spreadsheet and new policy type definitions are attached for your review.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
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