Florida Insurer Anti-Fraud Plan Compliance Audits Could Become Less Frequent Under Proposed Rule

Mar 31, 2015


Florida regulatory audits to ensure insurer compliance with anti-fraud laws could become less frequent with a proposed change in Rule 69D-2.005, entitled “Compliance and Enforcement” relating to insurance company anti-fraud units.

Currently, Rule 69D-2.005 provides that the Florida Office of Insurance Regulation (“OIR”) “shall” conduct audits to determine insurance company compliance with anti-fraud laws and “shall” take appropriate administrative action against insurers for non-compliance.  The proposed amendment would change the word “shall” to “may” to comply with the law implemented and also clarify agency authority to take appropriate administrative action against insurers for failure to comply.

The Florida Department of Financial Services (“DFS”) regulates fraud through the Division of Insurance Fraud.  The OIR is responsible for ensuring compliance with insurer anti-fraud plan filings with the DFS, where compliance with the Rule is evaluated by the Division of Insurance Fraud.

If requested in writing and not deemed unnecessary, a Rule Development Workshop will be held by the Florida Division of Insurance Fraud on April 13, 2015 at 11 a.m. in Tallahassee.

To view the Notice of Rule Development, click here.



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