Regulatory Update: Week of Oct. 1, 2007

Following is a listing of upcoming insurance-related regulatory meetings and hearings. 

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

 

October 5

9:30 a.m. 116 Larson Building  Hearing
69O-149.003(6)(d):  Maximum Trend, Rate Filing Procedures
 “Medical trend” refers to the expected amount medical bills will increase over the next year. It is used by health insurers in calculating the appropriate rates to be charged for medical insurance. If an insurer has credible data, it can determine medical trend on its own. However, if an insurer does not have credible data the maximum medical trend the insurer can use is the amount that is published in this rule paragraph. The Rule paragraph, therefore, establishes the “maximum medical trend” for medical insurance that can be used by an insurer that does not have the credible data needed to make its own determination as to medical trend.

October 8

The Florida DEPARTMENT OF FINANCIAL SERVICES, Office of Insurance Regulation announces a Notice of Meeting/Workshop Hearing to which all persons are invited. The location of the Public Hearing has been changed.
DATE AND TIME: October 8, 2007, 1:00 p.m. – conclusion
PLACE: Cabinet Meeting Room, LL-03, The Capitol, Tallahassee, Florida
GENERAL SUBJECT MATTER TO BE CONSIDERED: To consider a Workers’ Compensation filing made by the National Council on Compensation Insurance, Inc., by which the Council requests an overall average decrease in rate levels of 16.5% for the voluntary market for all new and renewal Workers’ Compensation Insurance policies written in the State of Florida, effective January 1, 2008.
A copy of the agenda may be obtained by contacting: James Watford, Actuary, Room 212-F, Larson Building, 200 East Gaines Street, Tallahassee, FL 32399-0330.

 

October 9

The Florida DEPARTMENT OF FINANCIAL SERVICES, Office of Insurance Regulation announces a Notice of Meeting/Workshop Hearing to which all persons are invited.
DATE AND TIME: October 9, 2007, 1:00 p.m.
PLACE: Cabinet Room, Lower Level, Florida Capitol, Tallahassee, FL
GENERAL SUBJECT MATTER TO BE CONSIDERED: Companion Property and Casualty Insurance Company, Inc. has requested a 63.4% overall increase for new and renewal home owners HO-6 policies, effective 10/29/07. The rate increases are not uniform and some areas are subject to higher rate increases.
Florida law allows the Office of Insurance Regulation to hold a public hearing for any purpose within the scope of the Insurance Code deemed to be necessary. Input from interested parties will be received at this public hearing. If you are unable to attend this public hearing, please forward your comments to ratehearings@fldfs.com. The subject line of your email should read “Companion.”

 

The Florida DEPARTMENT OF FINANCIAL SERVICES, Office of Insurance Regulation announces a Notice of Meeting/Workshop Hearing to which all persons are invited.
DATE AND TIME: October 9, 2007, 10:00 a.m.
PLACE: Cabinet Room, Lower Level, Florida Capitol Tallahassee, Florida
GENERAL SUBJECT MATTER TO BE CONSIDERED: USAA Group has requested an overall rate increase of 53.9% for its homeowner policies (FLR 07-140996), effective December 31, 2007, for new and renewal business. The requested rate increase is not uniform and some areas are subject to higher rate increases.  Florida law allows the Office of Insurance Regulation to hold a public hearing for any purpose within the scope of the Insurance Code deemed to be necessary. Input from interested parties will be received at this public hearing. If you are unable to attend this public hearing, please forward your comments to ratehearings@fldfs.com. The subject line of your e-mail should read “USAA.”

October 10

The Florida DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, Division of Agricultural Environmental Services has issued a Notice of Development of Rulemaking for RULE NO: RULE TITLE 5E-14.142: Responsibilities and Duties – Records, Reports, Advertising, Applications
PURPOSE AND EFFECT: The purpose of the Rule amendment is to clarify expectations of a Wood-Destroying Organisms Inspection Report to consumers and address the need to better document conditions within a structure with respect to wood-destroying organisms for the purposes of a real estate transaction and when a fee is charged for the inspection or a written report requested by the consumer.
SUBJECT AREA TO BE ADDRESSED: Wood-Destroying Organisms Inspection Report Form 13645.
A Rule Development Workshop will be held at the date, time and place shown below:
DATE AND TIME: October 10, 2007, 1:00 p.m.
PLACE: The Mid-Florida Research and Education Center, Room 185, 2725 Binion Road, Apopka, Florida

The Florida DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES, Division of Agricultural Environmental Services has issued a Notice of Development of Rulemaking for RULE NO: RULE TITLE
5E-14.102: Definitions
5E-14.105: Contractual Agreements in Public’s Interest – Control and Preventive Treatment for Wood-Destroying Organisms
5E-14.110: Fumigation Requirements – Notices
5E-14.111: Fumigation Requirements – Application; Restrictions and Precautions
5E-14.112: Fumigation Requirements – Prefumigation Inspections, Evacuation, Warning Notices (Signs), Special Safety Precautions and Responsibilities
5E-14.142: Responsibilities and Duties – Records, Reports, Advertising, Applications
PURPOSE AND EFFECT: The purpose of the Rule amendment is to clarify the definition of a “connected structure” and delineate requirements for structural connections which have not previously been provided in rule for fumigation pest control, alert consumers to the possibility that fumigations may be performed by a subcontracted company; appropriately address the need to provide the department prior notice of a fumigation as well as set forth new requirements for emergency information required on fumigation signage; provide fumigator’s the option of using the chloropicrin warning agent at label prescribed rates; and require records be maintained with respect to cylinder usage as part of the overall fumigation record keeping.
SUBJECT AREA TO BE ADDRESSED: Fumigation operations.
A Rule Development Workshop will be held at the date, time and place shown below:
DATE AND TIME: October 10, 2007, 10:00 a.m.
PLACE: The Mid-Florida Research and Education Center, Room 185, 2725 Binion Road, Apopka, Florida

October 11

The Florida DEPARTMENT OF FINANCIAL SERVICES, Office of Insurance Regulation and the Governor’s Continuing Care Advisory Council announces a Notice of Meeting/Workshop Hearing to which all persons are invited.
DATE AND TIME: October 11, 2007, 1:00 p.m.
PLACE: The Office of Insurance Regulation, 200 East Gaines Street, Larson Building, Room 601B, Tallahassee, FL 32399-0331
GENERAL SUBJECT MATTER TO BE CONSIDERED: To appoint a new chairperson and vice chairperson for the Advisory Council and discuss issues currently facing the Continuing Care industry.
A copy of the agenda may be obtained by contacting Christopher Struk at Christopher.Struk@fldfs.com or (850)413-2480.

 

October 15-17 (FWCJUA)

Monday, October 15, 2007  10:00:00 AM EST
Joint & Concurrent Board & Committee Mtg
The Florida Workers’ Compensation Joint Underwriting Association announces a joint and concurrent teleconference meeting of the Board of Governors, Rates & Forms Committee, Reinsurance Committee, and Producer Appeals Committee on Monday, October 15, 2007 at 10:00 a.m. The agenda topics for the October 15th meeting may include the approval of minutes; Board appointment process; seventh amended bylaws; review of rates and rating plans; 2008 reinsurance goals; and agency/producer request for reinstatement of privileges to submit business to the FWCJUA.
 

Wednesday, October 17, 2007  8:03:00 AM EST
Cancellation of Joint & Concurrent Board Mtg
The Florida Workers’ Compensation Joint Underwriting Association announces the cancellation of the October 17th joint and concurrent FWCJUA Board and Committees meeting. As we have been informed that the Financial Services Commission is expected to act on the appointment of FWCJUA Board members at its October 16, 2007 meeting, the Chair authorized the cancellation of the October 17th joint and concurrent FWCJUA Board and Committees meeting. In order to timely address the critical items that were to be discussed at the October 17th meeting, the Chair has scheduled a joint and concurrent teleconference meeting of the Board of Governors, Rates & Forms Committee, Reinsurance Committee, and Producer Appeals Committee on Monday, October 15, 2007 at 10:00 a.m

Wednesday, October 17, 2007  8:30:00 AM EST
Joint & Concurrent Board and Committee Meeting
The Florida Workers’ Compensation Joint Underwriting Association announces a joint & concurrent meeting of the Board of Governors, Audit Committee, Rates & Forms Committee, Operations Committee, Reinsurance Committee, MAP Committee, Investment Committee and Producer Appeals Committee on Wednesday, October 17, 2007 at 8:30 a.m., at the FWCJUA’s office, located at 6003 Honore Avenue, Suite 204, Sarasota, FL, 34238.

October 15

9:30 a.m. 116 Larson Building  Hearing
69O-171.002, .008:  General Reporting Requirements
Section 627.915(2) F.S. sets out a list of data property and casualty insurers must report on an annual basis to the Office by April 1 for the preceding year. The data is broken down by type of insurance. Current Rule 69O-171.002 sets forth the procedures which insurers must follow to comply with this duty. This Rule is being amended to adopt new technology in the collection of this data; the data being requested is exactly the same. The Rule adopts two forms, the first an Excel spreadsheet upon which the data are entered, and the second instructions to assist the insurers in filling out the spreadsheet.

October 16

The Florida DEPARTMENT OF FINANCIAL SERVICES, Division of Accounting and Auditing has issued a Notice of Development of Rulemaking for RULE NO: RULE TITLE
69I-72.001: Definitions
69I-72.002: Threshold for Recording Tangible Personal Property for Inventory Purposes
69I-72.003: Recording of Property
69I-72.004: Marking of Property
69I-72.005: Disposition of Property
69I-72.006: Inventory of Property
69I-72.007: Capitalization of Property
PURPOSE AND EFFECT: The purpose of the Proposed Rules is to implement: (1) Section 273.02, F.S., which requires the Chief Financial Officer to adopt rules regarding the requirements for recording of state-owned tangible personal property in the state’s financial system and for the periodic review of such property for inventory purposes; and (2) Section 273.055, F.S., which requires custodians to maintain records to identify property items for disposition in accordance with rules issued by the Chief Financial Officer. The Auditor General’s Office had been responsible for issuing such rules; however, Chapter 2006-122, Laws of Florida, transferred those responsibilities to the Chief Financial Officer. Chapter 2006-122, Laws of Florida, also created Section 273.025, F.S., which requires the Chief Financial Officer to adopt rules regarding the requirements for the capitalization of property that has been recorded in the state’s financial system.
SUBJECT AREA TO BE ADDRESSED: Recording and inventory requirements for state-owned tangible personal property. Capitalization requirements for state-owned tangible personal property.
If requested in writing and not deemed unnecessary by the agency head, a Rule Development Workshop will be held at the date, time and place shown below:
TIME AND DATE: October 16, 2007, 2:00 p.m.
PLACE: Room 430, Fletcher Building, Tallahassee, Florida

October 16

The EXECUTIVE OFFICE OF THE GOVERNOR has issued a Notice of Meeting/Workshop Hearing of the following state governmental agencies, boards and commissions to which all persons are invited:
State Board of Administration
Financial Services Commission
Department of Veterans’ Affairs
Department of Highway Safety and Motor Vehicles
Department of Law Enforcement
Department of Revenue
Department of Education
Administration Commission
Florida Land and Water Adjudicatory Commission
Board of Trustees of the Internal Improvement Trust Fund
Department of Environmental Protection
DATE AND TIME: October 16, 2007, 9:00 a.m.
PLACE: Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida
GENERAL SUBJECT MATTER TO BE CONSIDERED: Regular scheduled meeting of the Governor and Cabinet

October 18

9:30 a.m. 116 Larson Building  Hearing
69O-149.003, .005, .007:  Rate Filing Procedures
These Rules provide guidelines for insurers so they can be assured the rates they charge are reasonable in relation to benefits. The first amendment relates to pooling of insurance relating to cancer. The second amendment prohibits an insurer from knowingly pricing an individual rate to be charged to an insured to be excessive. The third amendment tightens up the requirements for rate certifications, to make sure that when an insurer annually states its rates meet Florida law, that statement is true

October 25

The Florida DEPARTMENT OF FINANCIAL SERVICES, Division of Insurance Agents and Agency Services has issued a Notice of Proposed Rule for RULE NO: RULE TITLE 69B-240.001: Military Sales Practices
PURPOSE AND EFFECT: The Proposed Rule chapter sets forth standards to protect active duty service members of the United States Armed Forces from certain insurance sales practices.
SUMMARY: The Florida Legislature enacted Laws of Florida, Ch. 2007-199, s. 10, which created Section 626.9611(2), Florida Statutes. That statute requires the Department to adopt rules to protect members of the United States Armed Forces from dishonest or predatory insurance sales practices. The rules are to be based on NAIC model rules.
If requested within 21 days of the date of this notice, a Hearing will be held at the date, time and place shown below:
DATE AND TIME: Thursday, October 25, 2007, 9:00 a.m.
PLACE: Room 116, Larson Building, 200 East Gaines Street, Tallahassee, Florida

October 30

9:00 a.m.  The Capitol  Financial Services Commission/Cabinet Mtg.  Final Adoption of Rule
69O-149.002 Rating Rule; Scope and Applicability
The Rule adopts the recent National Association of Insurance Commissioners (NAIC) interstate compact standard for defining incidental for accelerated death benefits.

 

Notice of Variance and Waiver

The Florida DEPARTMENT OF FINANCIAL SERVICES, Office of Insurance Regulation has issued a Notice of Variances and Waivers for RULE NO: RULE TITLE
69O-170.0155: Forms
NOTICE IS HEREBY GIVEN THAT on September 19, 2007, the Office of Insurance Regulation, received a petition for a Temporary Emergency Variance from subsection 69O-170.0155(1), F.A.C. The name of the Petitioner is the Florida Department of Financial Services, My Safe Florida Home Program. The nature of the Rule is the adoption of form OIR-B1-1802, “Uniform Mitigation Verification Inspection Form”.  A copy of the Petition for Variance or Waiver may be obtained by contacting Bob Prentiss at bob.prentiss@floir.com.

Notice of Proposed Rule

The Florida STATE BOARD OF ADMINISTRATION has issued a Notice of Proposed Rule for RULE NO: RULE TITLE  19-15.001: Insurance Capital Build-Up Incentive Program
PURPOSE AND EFFECT: This Rule is promulgated to implement Section 215.5595, Florida Statutes.
SUMMARY: The Rule is amended to reflect a new revision date for Form SBA 15-3, Quarterly Net Written Premium Report, which is incorporated into Rule 19-15.001, F.A.C., Insurance Capital Build-Up Incentive Program. The amendment to the form requests participants to provide an explanation with their quarterly filing when surplus falls below the surplus required by Section 215.5595, F.S. This addition to the Quarterly Net Written Premium Report streamlines the processes involved in administering the program and is beneficial both to the participant and to the administrator.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN Florida Administrative Weekly.

 

Various Dates

The Florida Taxation and Budget Reform Commission announces a Notice of Public Hearing series to which all persons are invited.
DATE AND TIME: Thursday, September 20, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Jacksonville City Council Chamber, City Hall, St. James Building, First Floor, 117 West Duval Street, Jacksonville, FL
DATE AND TIME: Wednesday, October 3, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Hillsborough County Meeting Rooms, Frederick B. Karl County Center, Twenty Sixth Floor, 601 East Kennedy Boulevard, Tampa, FL
DATE AND TIME: Thursday, October 4, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Orange County Commission Chamber, Orange County Administrative Building, First Floor, 201 South Rosalind Avenue, Orlando, FL
DATE AND TIME: Tuesday, October 9, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Lee County Commission Chamber, Old Lee County Courthouse, Second Floor, 2120 Main Street, Fort Myers, FL
DATE AND TIME: Wednesday, October 10, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Miami-Dade County Commission Chamber, Stephen P. Clark Center, Second Floor, 111 Northwest First Street, Miami, FL
DATE AND TIME: Thursday, October 11, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Broward County Commission Chamber, Broward County Government Center, Room 422, 115 South Andrews Avenue, Fort Lauderdale, FL
DATE AND TIME: Thursday, October 18, 2007, 4:00 p.m. – 7:00 p.m.
PLACE: Okaloosa-Walton College, Mattie Kelly Fine & Performing Arts Center, 100 College Boulevard, Niceville, FL
For more information please contact Kathy Torian (850)921-8905 or visit our website at www.floridatbrc.org.