28362332, 69O-137.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 28362332

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

INSURER REPORTING REQUIREMENTS

Overview

RULE:

69O-137.002	Annual Audited Financial Reports
69O-137.009	Filing Procedures for Commercial and Personal Residential Property Supplemental Quarterly Report
69O-137.011	Reinsurance Summary Statement
69O-137.015	Notice of Nonrenewal of Residential Property Insurance Policies

PURPOSE:

Section 624.424(8)(d), F.S., was amended to require that CPAs preparing annual reports for insurance companies must have four hours of insurance related continuing education every 2 years. This amends Rule 69O-137.002 to add that continuing education requirement to the qualifications for a CPA preparing the annual report.

Rule 69O-137.009, F.A.C., and Form OIR-D0-1185 are being amended to implement changes to Section 624.424(10) F.S. Those changes require that data collected from personal and commercial residential property insurance companies will be reported by zip code, not county, and those reports will be submitted on a monthly, rather than quarterly, basis. The changes to Form OIR-D0-1185 will allow insurers to submit that data as required beginning with the January 2025 data which is due on February 15, 2025.

Rule 69O-137.011 is amended to update Form OIR-D0-1433 to conform with current law and industry practice, and update the laws implemented.

Creates Rule 69O-137.015 and Form OIR-A1-1680 to provide a standard format for data being provided by insurers who are planning to nonrenew 10,000 or more residential property insurance policies within a 12-month period. This report is required by section 624.4305, F.S.

SUBJECT:

Insurer Reporting Requirements

RULEMAKING AUTHORITY:

624.308(1), 624.4085, 624.424, 624.4305, 624.610,

LAW:

624.307(1), 624.324, 624.424, 624.4305, 624.610

PRINT PUBLISH DATE:

5/15/2024 Vol. 50/96

RELATED STATUTES
AND LAWS:

624.308(1), 624.4085, 624.424, 624.4305, 624.610,, 624.307(1), 624.324, 624.424, 624.4305, 624.610

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-137.002&PDate=5/15/2024&Section=1

REFERENCE MATERIALS:

No reference(s).

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