Florida Insurance Calendar: August 6 – 10

 

Following is a listing of Florida insurance-related regulatory events for the week of August 6 – 10, 2012:

All times are Eastern Time (“ET”).  Additional information is available via hyperlink where noted in bold type.

 

 

FLORIDA INSURANCE REGULATORY EVENTS

        

Monday, August 6

• Florida Division of Consumer Services Proposed Rule Hearing; 10:00 a.m.  Proposed repeal of Rules relating to the My Safe Florida Home (“MSFH”) Program, which the Florida Legislature stopped funding in 2009.  To view the hearing notice, click here.
• Federal Advisory Committee on Insurance (“FACI”) meeting; 1:30 p.m.  Agenda includes follow-up discussion on conclusions of the March 30, 2012 FACI meeting and on the expected work product of the FACI and each subcommittee, if any.  To view the meeting notice, click here.

Tuesday, August 7

• Florida Cabinet meeting; 9:00 a.m.  To view the complete agenda, click here.
  • Florida Office of Insurance Regulation (“OIR”)
    
    • For approval for publication
      • Notice of Repeal to Rule 69O-157.105, “Refund of Premium,” which requires insurers that cancel an insurance policy to refund to the policyholder any unearned premium paid to the insurer.  This Rule substantially restates the language of Section 627.6645(4), F.S., and is considered unnecessary.
      • Notice of Repeal to Rule 69O-148.001, “Funding of Pre-Need Contracts With Life Insurance or Annuities,” which addresses the sale of life and annuity products by agents to fund pre-need funeral contracts
      • Notice of Repeal to Rule 69O-196.008, “Failure to Comply,” pertaining to premium finance companies
      • Notice of Repeal to Rule 69O-157.018, “Right to Return Policy-Free Look,” pertaining to individual long-term care insurers
      • Notice of Repeal to Rule 69O-185.005, “Advertisement of Mortgage Insurance”
• OIR Public Rate Hearing:  Castle Key Insurance Company; 9:00 a.m.  Castle Key Insurance Company and Castle Key Indemnity Company have requested average statewide rate increases of 32.1 percent and 21.9 percent for their homeowners programs, respectively.  The rates would be effective December 2, 2012 for new and renewal business.  The requested rate increases are not uniform, and some areas would be subject to higher increases.  To view the hearing notice, click here.
• Florida Division of Workers’ Compensation (“DWC”) Rule Development Workshop; 9:30 a.m.  A proposed amendment to Rule 69L-5.216, “Provision of Benefits and Safe Working Environment by Self-Insurers,” would clarify when Form SI-19 (Certification of Servicing for Self-Insurers) is due to the DWC or the Florida Self-Insurers Guaranty Association for current and former self-insurers that contract with Qualified Servicing Entities for more than one year.  To view the hearing notice, click here.
• Florida Department of Financial Services Automobile Insurance Fraud Strike Force meeting; 2:00 p.m. to 5:00 p.m.  To view the meeting notice, click here.

Wednesday, August 8

• Florida Department of Revenue (“DOR”) Rule Development Workshop; 9:00 a.m.  Proposed amendments to Rule 12B-8.003, “Tax Statement; Overpayments,” would adopt, by reference, changes to forms used by the DOR in the administration of the insurance premium taxes, fees and surcharges.  To view the hearing notice, click here. 
• DWC Proposed Rule Hearing; 10:00 a.m.  Proposed amendments to Rule 69L-6.019, “Policies and Endorsements Covering Employees Engaged in Work in Florida,” would allow out-of-state employers with construction projects in Florida up to two business days from the commencement of an investigation to establish that they have been issued a properly endorsed Florida workers’ compensation policy.  To view the hearing notice, click here.
• DWC Proposed Rule Hearing; 2:00 p.m.  Proposed amendments to Rule 69L-7.501, “Florida Workers’ Compensation Reimbursement Manual for Hospitals (Manual),” would adopt the 2012 Edition of the Manual, which incorporates a fee schedule reimbursement methodology for certain hospital services based on Current Procedural Terminology^® (CPT) line level charge data obtained from defined geographic areas in Florida.  It also establishes criteria to evaluate 18 months of hospital outpatient data.  To view the hearing notice, click here.

Thursday, August 9

• Florida Workers’ Compensation Joint Underwriting Association (“FWCJUA”) Investment Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.

 

LOOKING AHEAD

 

Tuesday, August 14

• OIR Proposed Rule Hearing; 9:30 a.m.  
  • Rule 69O-164.030, entitled “Application of Rule 69O-164.020 to Various Product Designs,” has been deemed unnecessary by the OIR and is proposed for repeal.  To view the hearing notice, click here.
  • Proposed amendments to Rule 69O-137.001 would adopt the 2011 National Association of Insurance Commissioners (“NAIC”) Quarterly Statement Instructions and the 2011 NAIC Accounting Practices and Procedures Manual.  To view the hearing notice, click here.
  • Proposed amendments to Rule 69O-138.001 would adopt the 2012 NAIC Financial Condition Examiners Handbook.  The current Rule adopted the 2011 version.  To view the hearing notice, click here.

Wednesday, August 15

• FWCJUA Audit Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.

Thursday, August 16

• OIR Proposed Rule Hearing; 9:30 a.m.  
  • Proposed repeal of Rule 69O-143.045, which was originally promulgated in the 1970s and defines a list of domestic insurer-related terms–many of which are now inconsistent with portions of the Florida Insurance Code.  To view the hearing notice, click here.
  • Proposed repeal of Rule 69O-142.011, which establishes penalty guidelines for insurer conduct violations discovered or investigated through financial examinations, market conduct examinations or OIR investigations.  Many of the existing fines have become antiquated due to inflation.  To view the hearing notice, click here.
  • Proposed repeal of Rule 69O-198.003, which prohibits any person, entity or administrator from providing or offering to provide service warranties unless authorized through OIR license, because it is a restatement of Section 634.403, F.S. and, therefore, unnecessary.  To view the hearing notice, click here.
  • Proposed repeal of Rule 69O-170.012, which prohibits insurers from non-renewing or canceling property insurance policies “on the basis of filing of claims for partial loss caused by sinkhole damage or clay shrinkage.”  Legislative changes have caused this Rule to become antiquated and unnecessary.  To view the hearing notice, click here.
• OIR Proposed Rule Hearing; 1:00 p.m.  Consideration of amendments to Rule 69O-149.003, “Rate Filing Procedures.”  To view the hearing notice, click here.
• Florida Workers’ Compensation Insurance Guaranty Association (“FWCIGA”) Workgroup meeting; 9:00 a.m.  Agenda includes discussion of issues and concerns resulting from recent insolvencies, including large deductible policies, collateral and employee leasing policies.  To view the meeting notice, click here.

Friday, August 24

• OIR Proposed Rule Hearing; 9:30 a.m.  Proposed amendments to Rule 69O-149.022 would update and edit the contents of the forms and instructions used by life and health insurers to make electronic form filings via the OIR’s I-File system.  To view the hearing notice, click here.

Monday, August 27

• DWC Proposed Rule Hearing; 9:30 a.m.  The proposed amendment to Rule 69L-5.217, entitled “Civil Penalties and Fines,” would reduce the amount of the penalty imposed by Rule 69L-5.217(1)(a)4 for delinquent forms, reports and documents from $200 per day to $100 per day.  To view the hearing notice, click here.

Tuesday, August 28

• Florida Board of Employee Leasing Companies (“BELC”) Board Meeting; 9:00 a.m.  Jacksonville, Florida.  To view the meeting notice, click here.

Wednesday, August 29

• BELC Board Meeting; 9:00 a.m.  Jacksonville, Florida.  To view the meeting notice, click here.
• FWCJUA Operations Committee meeting; 10:00 a.m.  To view the meeting notice, click here.  To view the agenda, click here.
• FWCJUA Reinsurance Committee meeting; 2:00 p.m.  To view the meeting notice, click here.  To view the agenda, click here.

Thursday, August 30

• FWCJUA Rates and Forms Committee meeting; 2:00 p.m.  To view the meeting notice, click here.

Wednesday, September 5

• FWCIGA Workgroup meeting.  Agenda includes discussion of issues and concerns resulting from recent insolvencies including large deductible policies, collateral and employee leasing policies.  To view the meeting notice, click here.

Friday, September 7

• Citizens Property Insurance Corporation Board of Governors meeting; 9:00 a.m. to 12:00 p.m.  Teleconference:  888-942-8686.  To view the meeting notice, click here.

Wednesday, September 12

• FWCJUA Annual Membership and Board of Governors meeting; 10:00 a.m.  To view the meeting notice, click here.

Wednesday, September 19

• BELC Board Meeting; 10:00 a.m. Teleconference: 888-670-3525; participant code: 7489217568#.  To view the meeting notice, click here.

 

 

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