Florida Office of Insurance Regulation Clarifies Order on Property and Casualty Forms Expedited Review Process, Self-Certification Requirements
Dec 5, 2012
On December 3, 2012, the Florida Office of Insurance Regulation (“OIR”) issued Order No. 130176-12, clarifying certain components of its June 25, 2012 Order establishing an expedited review and self-certification process for all property and casualty personal lines forms, except workers’ compensation, and exempting these forms from the requirements of s.627.410, Florida Statutes.
Under the expedited process, forms must be submitted in an informational filing to the OIR 30 days prior to use with a notarized certification. While the original Order provided that the certification must confirm that the filed forms “are in compliance with all applicable Florida Laws, including but not limited to statutes, rules, regulations and court decisions,” the December 3 Order now requires confirmation that the forms comply with “all applicable Florida Laws.”
Colodny Fass& Webb will provide an update if the OIR issues any further information as to the intent of this change in language.
Under the December 3 Order, the certification must be signed by “the company president, the company chief executive officer, the company general counsel, or the chief compliance officer for the company.” In guidance issued via e-mail today, December 5, the OIR indicated that the “chief compliance officer” is intended to mean “any employee of the company that is authorized by the company to make the filing in compliance with Florida Laws.” The OIR e-mail is reprinted below.
The December 3 Order, which is attached, is effective until June 24, 2013.
Should you have any questions or comments, please contact Colodny Fass& Webb.
Sent: Wednesday, December 05, 2012 10:33 AM
Subject: Order Exempting Specified Forms from the Requirements of Section 627.410, Florida Statutes
On Monday, the Office issued an order that clarifies Order 126368-12, issued on June 25, 2012. The order allows an insurer to submit any Property and Casualty policy form, policy endorsement, application, or other form, which would otherwise be subject to the requirements of Section 627.410, Florida Statutes, on an informational basis as long as a proper certification that complies with the requirements in the order (see attached) is included in the filing.
The certification must be signed by the president, chief executive officer, general counsel or chief compliance officer for the company. By “chief compliance officer”, the Office means any employee of the company that is authorized by the company to make the filing in compliance with Florida Laws.
Please feel free to contact me if you have any questions in regards to this order.
Sandra Starnes, Director
Florida Office of Insurance Regulation
Property & Casualty Product Review
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