10052321, 69O-138.047 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10052321

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FINANCIAL EXAMINATIONS AND REQUIREMENTS

Overview

RULE:

69O-138.047

Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Issues Summary

PURPOSE:

To adopt changes to the NAIC Model Regulation by adding an additional requirement to the Regulatory Asset Adequacy Issues Summary as a result of changes to Rules 69O-162.203 and 69O-164.020, F.A.C.

SUMMARY:

This rule calls for adopting changes to the NAIC Model Regulation. To take advantage of changes in Rules 69O-162.203 and 69O-164.020, F.A.C., the rule requires disclosure of significant interim results, such as the impact of the insufficiency of assets to support payment of benefits and expenses and the establishment of statutory reserves.

RULEMAKING AUTHORITY:

625.121(3)(a) FS.

LAW:

625.121(3) FS.

PRINT PUBLISH DATE:

7/1/2011 Vol. 37/26

COMMENTS:

From 7/1/2011 To 7/22/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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