Notice of Change/Withdrawal

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation
RULE NO: RULE TITLE
69O-142.015: Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 32 No. 39, September 29, 2006 issue of the Florida Administrative Weekly.

1. 69O-142.015(1)(a) is revised to read:

(1) CLAIMS REPORTING REQUIREMENTS.

(a) All entities having direct premiums written in Florida and authorized, approved or otherwise eligible to provide the coverages indicated below in items 1. and 2. shall report the information required by Form OIR-DO-1681, “Catastrophic Event Data Reporting and Analysis”, providing loss and associated exposure data within this state. The reporting shall be submitted with such frequency and for such areas as set forth in the Order activating this subsection and may be revised to reflect the phases of reporting necessary as set forth in form OIR-DO-1681. The applicable coverages are:

1. Those coverages as defined in Sections 627.4025(1) and 215.555(2)(c), F.S.

2. Other property coverages where loss is not specifically excluded in the policy’s outline of coverage such as:

a. Private Passenger Auto Physical Damage;

b. Commercial Auto Physical Damage;

c. Commercial Property, including Fire and Allied Lines;

d. Commercial Multiple Peril;

e. Farmowners Multiple Peril;

f. Ocean Marine;

g. Inland Marine;

h. Aircraft;

i. Boiler and Machinery.

(b) The following form is hereby adopted and incorporated by reference:

1. OIR-DO-1681 (revised 05/2007), “Catastrophic Event Data Reporting and Analysis”.

2. Copies of the form are available and may be printed from the Office’s website: http://www.floir.com/.

3. All information shall be submitted electronically through https://iportal.fldfs.com.

2. 69O-142.015(2)(d) is revised by editing the third sentence to read:

The extension of time shall also not apply to new policies effective on or after the date of the Order.

3. 69O-142.015(2)(f) is revised by removing “the week” and inserting “ten (10) calendar days”.

4. 69O-142.015(2)(g) is revised by deleting “date” and inserting “expiration date”.

5. 69O-142.015(2)(i) is revised by deleting “policy or not” and inserting “policy and not”.

6. 69O-142.015(2)(n) is revised to read:

This rule shall not apply to new policies effective on or after the initial activation date specified in the order.

7. 69O-142.015(2)(q) is revised by editing the second sentence to read:

Notwithstanding any other provisions contained herein, an insurer may file a petition pursuant to Section 120.542, F.S. if compliance with this rule may be reasonably expected to result in such insurer being subject to financial regulatory action levels by the Office.

8. Form OIR-DO-1681 has been revised to reflect additional reporting requirements authorized by law. A copy is available from the contact person.