28449535, 69O-137.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 28449535

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

INSURER REPORTING REQUIREMENTS

Overview

RULE:

69O-137.002	Annual Audited Financial Reports
69O-137.011	Reinsurance Summary Statement
69O-137.015	Notice of Nonrenewal of Residential Property Insurance Policies

PURPOSE:

Section 624.424(8)(d), F.S., was amended to require that CPAs preparing annual reports for insurance companies must have four hours of insurance related continuing education every 2 years. This amends Rule 69O-137.002 to add that continuing education requirement to the qualifications for a CPA preparing the annual report.
Rule 69O-137.011 is amended to update Form OIR-D0-1433 to conform with current law and industry practice, and update the laws implemented.
Creates Rule 69O-137.015 and Form OIR-A1-1680 to provide a standard format for data being provided by insurers who are planning to nonrenew 10,000 or more residential property insurance policies within a 12-month period. This report is required by section 624.4305, F.S.

SUMMARY:

Amends Rule 69O-137.002 to add the continuing education requirement to the qualifications for a CPA preparing the annual report. Rule 69O-137.011 is amended to update Form OIR-D0-1433 and correct statutory citations. Creates Rule 69O-137.015 and Form OIR-A1-1680 to provide a standard format for data being provided by insurers who are planning to nonrenew 10,000 or more residential property insurance policies within a 12-month period.

RULEMAKING AUTHORITY:

624.308(1), 624.4085, 624.424, 624.4305, 624.610, F.S.

LAW:

624.307(1), 624.324, 624.424, 624.4305, 624.610, F.S.

PRINT PUBLISH DATE:

6/14/2024 Vol. 50/117

COMMENTS:

From 6/14/2024 To 7/5/2024 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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