25742653, 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: 25742653

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:

The rule is amended to adopt the 2019 and 2020 National Association of Insurance Commissioners Financial Condition Examiners Handbooks. The current rule adopted the 2017 and 2018 versions of these handbooks.

SUMMARY:

Section 624.316, Florida Statutes, requires the Office to examine insurer’s financial condition according to accounting procedures designed to fulfill the requirements of generally accepted insurance accounting principles and practices, and 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 ensures that the procedures used by the Office to examine insurers are the current generally accepted accounting practices.

RULEMAKING AUTHORITY:

624.308(1), 624.316(1)(c), F.S.

LAW:

624.316(1)(c), F.S.

PRINT PUBLISH DATE:

4/8/2022 Vol. 48/69

COMMENTS:

From 4/8/2022 To 4/29/2022 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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