10052515, 69O-162.203 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10052515

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

ANNUITY CONTRACTS

Overview

RULE:

69O-162.203

Adoption of 2001 Commissioners Standard Ordinary (CSO) Preferred Mortality Tables for Determining Reserve Liabilities for Ordinary Life Insurance.

PURPOSE:

To adopt changes to the NAIC Model Regulation and explain the conditions for use of the preferred class structure mortality tables and to permit use of the mortality tables for policies issued prior to the adoption date of the original rule.

SUMMARY:

This rule calls for adopting changes to the NAIC Model Regulation. The rule allows for use of the 2001 CSO Preferred Class Structure Mortality Table for policies issued prior January 1, 2007, but only with the consent of the commissioner and subject to conditions on reserve credits.

RULEMAKING AUTHORITY:

624.308(1), 625.121 FS.

LAW:

624.307 (1), 625.121 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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