25775342, 69O-144.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 25775342

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

REINSURANCE

Overview

RULE:

69O-144.001	Purpose (Repealed)
69O-144.002	Reinsurance Application Procedures
69O-144.004	Credit for Reinsurance: Authorized Reinsurers
69O-144.005	Credit for Reinsurance; Accredited Reinsurers
69O-144.006	Credit for Reinsurance: Reinsurers Maintaining Trust Funds
69O-144.007	Credit for Reinsurance from Certified Reinsurers
69O-144.009	Credit for Reinsurance: Other Requirements and Provisions
69O-144.011	Credit for Reinsurance from Reinsurers Domiciled in Reciprocal Jurisdictions
69O-144.012	Term and Universal Life Insurance Reserve Financing

PURPOSE:

The Office of Insurance Regulation is updating Chapter 69O-144 to conform with changes to the NAIC’s model regulations relating to credit for reinsurance and term and universal life insurance reserve financing.

SUMMARY:

69O-144.001 is repealed. 69O-144.002 is amended to contain all reinsurance applications and renewals. 69O-144.004 is created to contain requirements for authorized reinsurers. 69O-144.005 is amended to contain requirements for accredited reinsurers. 69O-144.006 is created to contain requirements for reinsurers maintaining trust funds. 69O-144.007 is amended to contain requirements for certified reinsurers. 69O-144.009 is created to cover requirements that apply to all types of credit for reinsurance.  69O-144.011 is created to contain requirements for reinsurers domiciled in reciprocal jurisdictions.  69O-144.012 is created to adopt NAIC Term and Universal Life Insurance Reserve Financing Model Regulation.

RULEMAKING AUTHORITY:

624.308(1), 624.424(1), 624.610(4), (15), 625.121(3), 625.1212(5), (8) FS.

LAW:

624.307, 624.316, 624.317, 624.318, 624.321, 624.624, 624.34, 624.401, 624.404, 624.407, 624.4085, 624.413, 624.424, 624.501, 624.5091, 624.610, 625.012, 625.121, 625.1212, 625.151, 626.9641, 628.051, 628.061, 628.801, 629.081, 631.051, 631.071, 631.081 FS.

PRINT PUBLISH DATE:

4/19/2022 Vol. 48/76

COMMENTS:

From 4/19/2022 To 5/10/2022 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

Ref-05566 69O-144.007 OIR-C1-2116
Ref-05567 69O-144.007 OIR-C1-2117
Ref-05568 69O-144.007 OIR-C1-2118

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