7478232, 69O-138.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 7478232

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FINANCIAL EXAMINATIONS AND REQUIREMENTS

Overview

RULE:

69O-138.001

NAIC Financial Condition Examiners Handbook Adopted

PURPOSE:

This rule is being amended to adopt the 2009 NAIC Financial Condition Examiners Handbook. The current rule adopted the 2008 version.

SUMMARY:

Section 624.316, Florida Statutes, requires the Office to examine insurer’s financial condition, using generally accepted accounting procedures. This statute also allows the Office to adopt the NAIC Financial Condition Examiners Handbook to facilitate these exams. By adopting the newest version of the handbook, this rule improves the Offices’ position by ensuring that the procedures used to examine insurers are the current generally accepted accounting practices.

RULEMAKING AUTHORITY:

624.308(1), 624.316(1)(c) FS.

LAW:

624.316(1)(c) FS.

PRINT PUBLISH DATE:

8/14/2009 Vol. 35/32

COMMENTS:

From 8/14/2009 To 9/4/2009 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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