69O-137.001: Annual and Quarterly Reporting Requirements
PURPOSE AND EFFECT: This rule is being amended to adopt the 2010 NAIC Quarterly Statement Instructions and also adopts the 2010 NAIC accounting practices and procedures manual.
SUMMARY: Section 624.424, Florida Statutes, requires insurers to file quarterly and annual financial reports with the Office of Insurance Regulation and allows the Office to enact rules setting the standards for those reports. By adopting the current versions of these NAIC instructions and manuals, the Office is establishing up-to-date, uniform standards for annual and quarterly reports which will provide the information necessary for the Office to evaluate insurers’ financial conditions.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 624.308(1), 624.424(1) FS.
LAW IMPLEMENTED: 624.424(1) FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: July 27, 2010, 9:30 a.m.
PLACE: 142 Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Kerry Krantz, Bureau of Life and Health, Office of Insurance Regulation, E-mail kerry.krantz@floir.com. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Kerry Krantz, Bureau of Life and Health, Office of Insurance Regulation, E-mail kerry.krantz@floir.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69O-137.001 Annual and Quarterly Reporting Requirements.
(1) through (3) No change.
(4) Manuals Adopted
(a) Annual statements shall be prepared in accordance with the following manuals, which are hereby adopted and incorporated by reference:
1. The NAIC’s Annual Statement Instructions, Property and Casualty, 2010 2009;
2. The NAIC’s Annual Statement Instructions, Life, Accident and Health, 2010 2009;
3. The NAIC’s Annual Statement Instructions, Health, 2010 2009;
4. The NAIC’s Annual Statement Instructions, Title, 2010 2009; and
5. The NAIC’s Accounting Practices and Procedures Manual, as of March 2010 2009.
(b) Quarterly statements shall be prepared in accordance with the following manuals, which are hereby adopted and incorporated by reference:
1. The NAIC’s Quarterly Statement Instructions, Property and Casualty, 2010 2009;
2. The NAIC’s Quarterly Statement Instructions, Life, Accident and Health, 2010 2009;
3. The NAIC’s Quarterly Statement Instructions, Health, 2010 2009;
4. The NAIC’s Quarterly Statement Instructions, Title, 2010 2009; and
5. The NAIC’s Accounting Practices and Procedures Manual, as of March 2010 2009.
(c) No change.
Rulemaking Specific Authority 624.308(1), 624.424(1) FS. Law Implemented: 624.424(1) FS. History–New 3-31-92, Amended 8-24-93, 4-9-95, 4-9-97, 4-4-99, 11-30-99, 2-11-01, 4-5-01, 12-4-01, 12-25-01, 8-18-02, 7-27-03, Formerly 4-137.001, Amended 1-6-05, 9-15-05, 1-25-07, 3-16-08, 3-4-09, 1-4-10,________.