499276 - Florida Administrative Rules, Law, Code, Register

Florida Department of State and Division of Library and Information Services


Notice: 499276
Notice of Meeting/Workshop Hearing

Department:	DEPARTMENT OF FINANCIAL SERVICES
Division:	OIR – Insurance Regulation


Overview



	The Financial Services Commission announces a public hearing to which all persons are invited. announces a public meeting to which all persons are invited.

DATE AND TIME:	August 1, 2006, 9:00 a.m., during a regular meeting of the Financial Services Commission.

PLACE:	Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida

Subject:	This is the Final Public Hearing on the adoption of proposed amendments to Rules 69O-144.002 and 69O-144.005, Florida Administrative Code, published on April 21, 2006, in Vol. 32, No. 16, of the Florida Administrative Weekly. No notice of change was published. Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this program, please advise the contact person at least 5 calendar days before the program by contacting Claude Mueller at E-mail: claude.mueller@fldfs.com. THE FULL TEXT OF THE PROPOSED RULE IS: 69O-144.002 Approval Procedures. (1) An insurer seeking the status of an accredited reinsurer pursuant to Section 624.610(3)(b)1., Florida Statutes, shall comply with the instructions contained in Form OIR-C1-923, “Application For Accredited Reinsurer Status,” rev. 5/02 and submit the following forms. Forms relating to specific types of insurance are to be submitted only by companies issuing policies relating to the type of insurance specified on the form. (a) Form OIR-C1D0-927, “Application To Conduct Business In The State of Florida Accredited Reinsurer Status,” rev. 5/02; (b) Form OIR-C1D0-903, “Invoice, Request For Payment of Fingerprint Charges,” rev. 4/97; (c) Form OIR-C1D0-1524, “Uniform Consent to Service of Process,” rev. 5/02; (d) Form OIR-D0-516, “Insurance Holding Company System Registration Statement,” rev. 4/97; (e) Form OIR-C1D0-1298, “Management Information Form,” rev. 4/97; (f) Form OIR-C1D0-1423, “Biographical Affidavit,” rev. 5/02; (g) Fingerprint cards furnished by the Office, according to instructions in Form OIR-C1D0-938, “Fingerprint Card Instructions,” rev. 5/02; (h) The material required by Form OIR-C1D0-905 “Instructions for Furnishing Background Investigative Reports,” rev. 2/01; (i) OIR-C1D0-1464, “FORM AR-1 Certificate of Assuming Insurer,” rev. 5/02; (j) OIR-C1D0-1465, “Invoice, Payment of Application Filing Fees,” rev. 5/02; (k) OIR-C1D0-1538, “Checklist Verification,” rev. 5/02; (l) through (2) No change. (3) An insurer seeking the status of a trusteed reinsurer pursuant to Section 624.610, Florida Statutes, shall comply with the instructions contained in Form OIR-C1D0-1466, “Application for Trusteed Reinsurer Status For Single Assuming Reinsurer,” rev. 5/ 02 and submit the following: (a) through (d) No change. (e) Form OIR-C1D0-1524, “Uniform Consent to Service of Process,” rev. 5/02; (f) Form OIR-C1D0-1298, “Management Information Form,” rev. 4/97; (g) Form OIR-C1D0-1423, “Biographical Affidavit,” rev. 5/02 for all individuals listed on Form OIR-C1D0-1298; (h) Form OIR-C1D0-1469, rev. 5/02, “Certificate of Assuming Insurer to Submit to Examination and Bear the Cost of Examination”; (i) “Checklist Trust Agreement for Trusteed Reinsurer” is included in Form OIR-C1-1466, rev. 5/02; and. (j) Form OIR-C1D0-1538, “Checklist Verification,” rev. 5/02. (4) All forms listed in subsections (1) and (3), above, are hereby adopted and incorporated by reference. All forms may be obtained from and shall be submitted to the Company Admissions Applications Coordination Section, Division of Insurer Services, Office of Insurance Regulation, Larson Building, 200 East Gaines Street, Tallahassee, FL 32399-0332. All checks shall be made payable to the Office of Insurance Regulation. Specific Authority 624.308, 624.610(14) FS. Law Implemented 624.307(1), (2), (3), (5), 624.316, 624.317, 624.318, 624.321, 624.324, 624.34, 624.401, 624.404, 624.407, 624.413, 624.424, 624.501(20)(c), 624.5091, 624.610, 628.051, 628.061, 628.801, 629.081 FS. History–New 1-30-91, Formerly 4-108.002, Amended 5-12-94, 10-13-02, Formerly 4-144-002, Amended _____________. 69O-144.005 Credit for Reinsurance. (1) No change. (2) Credit for reinsurance by a domestic insurer shall be allowed when the reinsurance is ceded to an assuming insurer which is accredited as a reinsurer in this state pursuant to Section 624.610(3)(b), Florida Statutes and Rule 69O-144.002, F.A.C., as of any date on which statutory financial statement credit for reinsurance is claimed. An accredited reinsurer pursuant to Section 624.610(3)(b), Florida Statutes: (a)1. Files with the Office a properly executed Form OIR-C1-1464 OIR-D0-1, which is hereby adopted and incorporated by reference, as evidence of its submission to this state’s jurisdiction and to this state’s authority to examine its books and records. 2. Form OIR-C1-1464 OIR-D0-1 is available from, and shall be submitted to the following: for life and health insurers, Bureau of Life and Health Financial Oversight Insurer Solvency and Market Conduct, 200 East Gaines Street, Tallahassee, Florida 32399-0327; for property and casualty insurers, Bureau of Property and Casualty Financial Oversight Insurer Solvency and Market Conduct, 200 East Gaines Street, Tallahassee, Florida 32399-0329; (b) Is licensed to transact insurance or reinsurance in at least one state, or in the case of a U.S. branch of an alien assuming insurer, is entered through and licensed to transact insurance or reinsurance in at least one state; and (c) Files annually and quarterly with the Office a copy of its annual and quarterly statements filed on the National Association of Insurance Commissioners convention blanks, which are hereby adopted and incorporated by reference, with the insurance department of its state of domicile or, in the case of a U.S. branch of an alien assuming insurer, with the state through which it is entered and in which it is licensed to transact insurance or reinsurance, and a copy of its most recent audited financial statement and maintains a surplus as regards policyholders in accordance with Section 624.610(3)(b)1.d., Florida Statutes, and whose approval has been granted by the Office. If quarterly statements are not required by the state of domicile, quarterly statements shall only be required upon written request of the Office. The following National Association of Insurance Commissioners blanks are hereby adopted and incorporated by reference: 1. NAIC Annual Statement Blank Life/Accident/Health 2005 2001, 2. NAIC Quarterly Statement Blank Life/Accident/Health 2005 2001, 3. NAIC Annual Statement Blank Health 2005 2001, 4. NAIC Quarterly Statement Blank Health 2005 2001, 5. NAIC Annual Statement Blank Property and Casualty 2005; and 2001, 6. NAIC Quarterly Statement Blank Property and Casualty 2005 2001. (3) through (7) No change. Specific Authority 624.308 FS. Law Implemented 624.307(1), 624.610 FS. History–New 1-30-91, Formerly 4-108.005, Amended 12-25-97, 10-13-02, Formerly 4-144-005, Amended _____________.


	A copy of the agenda may be obtained by contacting:

PRINT PUBLISH DATE:	7/14/2006 Vol. 32/28


REFERENCE MATERIALS:	No reference(s).

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