OIR Workshop on NAIC Financial Condition Examiners Handbook: September 4
Sep 4, 2008
The Florida Office of Insurance Regulation (“OIR”) had scheduled a Workshop for today, September 4, 2008, on proposed Rules 69O-138.001, entitled NAIC Financial Condition Examiners Handbook Adopted and 69O-137.001, entitled Annual and Quarterly Reporting Requirements. However, because the Workshop was not requested, it was not held.
Section 624.316, F.S. requires the OIR to examine an insurer’s financial condition using generally accepted accounting procedures. This statute also allows the OIR to adopt the National Association of Insurance Commissioners (“NAIC”) Financial Condition Examiners Handbook to facilitate these exams.
By adopting the newest version of the Handbook, these Rules are intended to ensure that the procedures used to examine insurers are the current generally accepted accounting practices.
Next, there will be a public hearing on the proposed Rules. Please feel free to contact Colodny Fass should you have any comments or questions.
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