Upcoming OIR Rule Development: September 4, 22

The Florida Office of Insurance Regulation has issued the following Notices of Rulemaking Development.  To view the Notices and Rule texts, click on the hyperlinks below:

 

Development of Rulemaking–Rule 69O-137.001: Annual and Quarterly Reporting Requirements

The OIR has issued a Notice of Development of Rulemaking for Rule 69O-137.001: Annual and Quarterly Reporting Requirements.

This Rule is being amended to adopt the 2008 NAIC manuals for annual and quarterly statements and also adopts the 2008 NAIC accounting practices and procedures manual. The 2008 version is the latest version of these manuals. The current Rule adopted the 2007 version.

Florida law requires insurers to file quarterly and annual financial reports with the OIR and allows the Office to enact rules setting the standards for those reports. By establishing up-to-date, uniform standards for annual and quarterly reports, this Rule enhances the OIR’s position under the statute. This Rule ensures that all reports are in a standard format which provides the information needed to evaluate the insurer’s financial condition.

If requested in writing and not deemed unnecessary by the agency head, a Rule Development Workshop will be held on:

September 4, 2008 at 9:30 a.m.
116 Larson Building,
200 East Gaines Street
Tallahassee, Florida

 

Notice of Development of Rulemaking–Rule 69O-138.001: NAIC Financial Condition Examiners Handbook Adopted

The OIR has issued a Notice of Development of Rulemaking for Rule 69O-138.001: NAIC Financial Condition Examiners Handbook Adopted

Florida law requires the OIR to examine insurer’s financial condition, using generally accepted accounting procedures. This statute also allows the OIR to adopt the NAIC Financial Condition Examiners Handbook to facilitate these exams. By adopting the newest version of the handbook, this Rule improves the OIR’s position by ensuring that the procedures used to examine insurers are the current generally accepted accounting practices.

This Rule is being amended to adopt the 2008 NAIC Financial Condition Examiners Handbook. The 2008 version is the latest version of this handbook. The current Rule adopted the 2007 version.

If requested in writing and not deemed unnecessary by the agency head, a Rule Development Workshop will be held on:

September 4, 2008 at 9:30 a.m.
116 Larson Building,
200 East Gaines Street
Tallahassee, Florida

 

OIR Notice of Proposed Rule Development–Rule 69O-197.006 Insurance Administrator Annual Report Form

The OIR has issued a Notice of Proposed Rule Development for Rule 69O-197.006 Insurance Administrator Annual Report Form.

The Notice and complete proposed Rule text is attached for your review.

The proposed Rule would adopt a form that insurance administrators must submit to the OIR in order to submit financial information.

If requested in writing and not deemed unnecessary by the agency head, a Rule Development Workshop will be held on:

September 22, 2008 at 9:30 a.m.
116 Larson Building,
200 East Gaines Street
Tallahassee, Florida

 

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

 

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