Florida Governor Rick Scott Signs SB 468 Allowing Self-Certification of Certain Insurance Policy Forms

May 30, 2013


A bill providing insurers with the option to self-certify their form filings under certain circumstances was signed into law by Florida Governor Rick Scott today, May 30, 2013.

CS/CS/SB 468, which has an effective date of July 1, 2013, codifies a pilot project by the Florida Office of Insurance Regulation (“OIR”) that provides an alternative mechanism to the insurance policy form filing and approval process required by s. 627.410, F.S. for property and casualty insurance lines, excluding workers’ compensation and personal lines.

Insurers may elect to self-certify if:

  • The form is electronically submitted to the OIR in an informational filing 30 days before delivery of the form within the state; and
  • The informational filing includes a certification of compliance.

If the form is not in compliance with state laws and rules, the form filing is subject to the prior approval requirements of s. 627.410, F.S.  

A Notice of Change in Policy Terms form is also required as a part of the informational filing for any renewal policy that contains a change.

Further, CS/CS/SB 468 expands the number of commercial lines insurance that are exempt from the rate filing and review requirements of s. 627.062(2)(a) and (f), F.S. to include: 

  • Medical malpractice for a facility that is not a hospital, nursing home, or assisted living facility.
  • Medical malpractice for a health care practitioner that is not a licensed dentist, physician, osteopathic physician, chiropractic physician, podiatric physician, pharmacist, or pharmacy technician. 

The rate filing requirements that these types of medical malpractice insurance are exempt from are: 

  • The requirement to file with the OIR rates, rating schedules, or rating manuals via the “file and use” method (at least 90 days prior to the proposed effective date) or the “use and file” method (within 30 days after the effective date of the filing).
  • The authority of the OIR to require an insurer to provide, at the insurer’s expense, all information necessary to evaluate the condition of the company and the reasonableness of the rate filing. 

The bill also extends the exemption of medical malpractice insurance policies from Florida Hurricane Catastrophe Fund emergency assessments until May 31, 2016.  The exemption was scheduled to expire May 31, 2013.


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