14188692, 19-8.013 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 14188692

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ADMINISTRATION OF THE FLORIDA HURRICANE CATASTROPHE FUND

Overview

RULE:

19-8.013	Revenue Bonds Issued Pursuant to Section 215.555(6), F.S
19-8.029	Insurer Reporting Requirements and Responsibilities
19-8.030	Insurer Responsibilities (Repealed)

PURPOSE:

The State Board of Administration, Florida Hurricane Catastrophe Fund, seeks to amend the rules listed above to implement Section 215.555, Florida Statutes.

SUMMARY:

Rule 19-8.013, F.A.C., establishes the process for issuance of revenue bonds under s. 215.555(6), F.S. The proposed amendments conform the rule to legislation that changed the name of the Florida Hurricane Catastrophe Fund Finance Corporation to the State Board of Administration Finance Corporation, and to make other editorial changes. Rule 19-8.029, F.A.C., relates to insurer reporting requirements. The proposed amendments adopt the Data Call and other applicable reporting requirements for the 2014-2015 contract year, revise the rule and forms to provide for online reporting of exposure, and clarify the treatment of certain mixed-use structures. Rule 19-8.030, F.A.C., specifies insurer loss reporting, exposure reporting, and examination requirements. The proposed amendments adopt the examination instruction forms applicable to the 2014-2015 contract year, require online loss reporting, and address implementation of the online reporting system.
OTHER RULES INCORPORATING THESE RULES: There are no other rules which incorporate these three rules. However, Rule 19-8.029, F.A.C., is referenced in Rules 19-8.028 and 19-8.030, F.A.C., as follows: Rule 19-8.028(2)(f) F.A.C., Reimbursement Premium Formula, and Rule 19-8.030(3)(i), (8) and (11), F.A.C., Insurer Responsibilities. 
EFFECT ON THOSE OTHER RULES: There is no impact on the two rules which reference Rule 19-8.029, F.A.C.

RULEMAKING AUTHORITY:

215.555(3), F.S.

LAW:

215.555(2), (3), (4), (5), (6), (7), (10), (17), F.S.

PRINT PUBLISH DATE:

3/7/2014 Vol. 40/46

COMMENTS:

From 3/7/2014 To 3/28/2014 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Ref-01194 "Contract Year 2012 Interim Loss Report, Florida Hurricane Catastrophe Fund (FHCF)," FHCF-L1A, rev. 05/12
Ref-01195 "Contract Year 2012 Proof of Loss Report, Florida Hurricane Catastrophe Fund (FHCF)," FHCF-L1B, rev. 05/12
Ref-02336 FHCF Loss Reimbursement Examination - Contract Year 2013 Advance Prep Instructions

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.