OIR Notice of Proposed Rule Hearing: Credit for Reinsurance From Eligible Reinsurers

The Florida Department of Financial Services, Office of Insurance Regulation (“OIR”), has issued a Notice of Proposed Rule Hearing for (Rule Number: Rule Title) 69O-144.007: Credit for Reinsurance From Eligible Reinsurers.

The purpose of the proposed Rule is to implement revisions to Section 624.610, F.S., relating to rating-based collateral requirements.

The proposed Rule establishes a process to implement Section 624.610(3)(e), F.S., by setting up a process by which an insurer gets credit for ceded insurance based upon its rating.

If requested within 21 days of the Notice, a Hearing will be held at the following date, place and time:

April 29, 2008, 9:30 a.m.
Florida Office of Insurance Regulation
116 Larson Building
200 East Gaines Street
Tallahassee, Florida

To view the full text of the proposed Rule, click here.

Should it be scheduled, a representative from this office will attend the Hearing and provide a report on the proceedings.

Should you have any questions or comments, please do not hesitate to contact this office.

 

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