27355957, 69O-138.003 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 27355957

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FINANCIAL EXAMINATIONS AND REQUIREMENTS

Overview

RULE:

69O-138.003	Market Conduct Exam Methodology
69O-138.004	Risk-Based Selection Methodology for Scheduling Financial Examinations

PURPOSE:

Rules 69O-138.004 “Risk-Based Selection Methodology for Scheduling Financial Examinations” and 69O-138.003 “Market Conduct Exam Methodology” are being created to enact the provisions of Sections 4 and 5 of Chapter 2023-172, L.O.F.  

Section 4 of the chapter law creates Section 624.316(3), F.S., which requires that the Office create by rule “a risk-based selection methodology for scheduling examinations of insurers subject to this section.” Rule 69O-138.004, outlines the selection method for financial examinations. 

Section 5 of the chapter law creates Section 624.3161(8), F.S., which requires that the Office create by rule “a selection methodology for scheduling and conducting examinations of insurers and other entities regulated by the office.” Rule 69O-138.003 outlines the selection method for market conduct examinations.

SUBJECT:

Market Conduct and Financial Exam Scheduling Methodology

RULEMAKING AUTHORITY:

624.316, 624.3161, F.S.

LAW:

Sections 624.316, 624.3161, F.S

PRINT PUBLISH DATE:

7/21/2023 Vol. 49/141

RELATED STATUTES
AND LAWS:

624.316, 624.3161, F.S., Sections 624.316, 624.3161, F.S

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69O-138.003&PDate=7/21/2023&Section=1

REFERENCE MATERIALS:

No reference(s).

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