Fla. Admin. Code Ann. R. 19-8.029 - Insurer Reporting Requirements and Responsibilities
(1) Purpose. This
rule specifies certain deadlines and other requirements for insurers that
participate in the Florida Hurricane Catastrophe Fund (FHCF).
(2) Definitions. The definitions in the
Reimbursement Contract for the applicable Contract Year also apply to this rule
and the forms referenced in this rule. In addition, as used in this rule and
the forms referenced in this rule:
(a)
"Contract Year" is defined in Section
215.555(2),
F.S.
(b) "Insurer" or "Company"
means an insurer that is required to enter into a Reimbursement
Contract.
(3) Data Call
form.
(a) For the 2024/2025 Contract Year,
the reporting of Company exposure data shall be in accordance with Form
FHCF-D1A, "Florida Hurricane Catastrophe Fund 2024 Data Call," rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16332,
which is hereby adopted and incorporated by reference into this rule.
(b) For the 2025/2026 Contract Year, the
reporting of Company exposure data shall be in accordance with Form FHCF-D1A,
"Florida Hurricane Catastrophe Fund 2025 Data Call," rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17480,
which is hereby adopted and incorporated by reference into this rule.
(4) Loss reporting forms.
(a)
1. For
the 2024/2025 Contract Year, the reporting of Ultimate Net Loss shall be in
accordance with Form FHCF-L1A, "Contract Year 2024 Interim Loss Report, Florida
Hurricane Catastrophe Fund (FHCF)," rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16334,
which is hereby adopted and incorporated by reference into this rule.
2. For the 2025/2026 Contract Year, the
reporting of Ultimate Net Loss shall be in accordance with Form FHCF-L1A,
"Contract Year 2025 Interim Loss Report, Florida Hurricane Catastrophe Fund
(FHCF)," rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17483,
which is hereby adopted and incorporated by reference into this rule.
(b)
1. For the 2024/2025 Contract Year, the
reporting of Ultimate Net Loss shall be in accordance with Form FHCF-L1B,
"Contract Year 2024 Proof of Loss Report, Florida Hurricane Catastrophe Fund
(FHCF)," rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16335,
which is hereby adopted and incorporated by reference into this rule.
2. For the 2025/2026 Contract Year, the
reporting of Ultimate Net Loss shall be in accordance with Form FHCF-L1B,
"Contract Year 2025 Proof of Loss Report, Florida Hurricane Catastrophe Fund
(FHCF)," rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17484,
which is hereby adopted and incorporated by reference into this rule.
(c)
1. For the 2024/2025 Contract Year, the
applicable Detailed Claims Listing Instructions is Form FHCF-DCL, "Contract
Year 2024 Detailed Claims Listing Instructions," rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16333,
which is hereby adopted and incorporated by reference into this rule.
2. For the 2025/2026 Contract Year, the
applicable Detailed Claims Listing Instructions is Form FHCF-DCL, "Contract
Year 2025 Detailed Claims Listing Instructions," rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17482,
which is hereby adopted and incorporated by reference into this rule.
(5) Examination.
(a) Advance examination record requirements.
Within 30 days after the date of the request for such information, a Company
must provide the FHCF with the records indicated in the applicable Contract
Year's "Exposure Examination Advance Preparation Instructions" or in the
applicable Contract Year's "Claims Examination Advance Preparation
Instructions." The FHCF may grant an extension of 30 days if the Company can
show that the need for the additional time is due to circumstances beyond its
reasonable control.
1. For the 2024/2025
Contract Year, the applicable exposure examination instructions form is the
"Florida Hurricane Catastrophe Fund (FHCF) Exposure Examination - Contract Year
2024 Advance Preparation Instructions," FHCF-EAP1, rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16331,
which is hereby adopted and incorporated by reference into this rule. The
applicable claims examination instructions form is the "Florida Hurricane
Catastrophe Fund (FHCF) Claims Examination - Contract Year 2024 Advance
Preparation Instructions," FHCF-LAP1, rev. 02/24,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16336,
which is hereby adopted and incorporated by reference into this rule.
2. For the 2025/2026 Contract Year, the
applicable exposure examination instructions form is the "Florida Hurricane
Catastrophe Fund (FHCF) Exposure Examination - Contract Year 2025 Advance
Preparation Instructions," FHCF-EAP1, rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17481,
which is hereby adopted and incorporated by reference into this rule. The
applicable claims examination instructions form is the "Florida Hurricane
Catastrophe Fund (FHCF) Claims Examination - Contract Year 2025 Advance
Preparation Instructions," FHCF-LAP1, rev. 02/25,
http://www.flrules.org/Gateway/reference.asp?No=Ref-17485,
which is hereby adopted and incorporated by reference into this rule.
(b) Consequences for failure to
meet the requirements contained in the FHCF-EAP1, "Exposure Examination Advance
Preparation Instructions" or the FHCF-LAP1, "Claims Examination Advance
Preparation Instructions." In addition to other penalties or consequences, the
FHCF has the authority, pursuant to Section
215.555(4)(f),
F.S., to require that the Company pay for the following services under the
circumstances specified herein:
1. If the
Company is responsible for the delay of an examination, the inability to
conduct an examination as scheduled, or the inability to complete an
examination, the Company shall be required to reimburse the FHCF for all the
usual and customary expenses connected to such delay, cancellation, or
incompletion.
2. If the FHCF finds
any Company's records or other necessary information to be inadequate or
inadequately posted, recorded, or maintained, the FHCF may employ experts to
reconstruct, rewrite, record, post, or maintain such records or information, at
the expense of the Company being examined.
3. A Company required to reimburse the FHCF
for costs as required in subparagraphs 1. and 2., is liable for interest on the
amount owed to the FHCF from the date the FHCF pays such expenses until the
date payment from the Company is received. The applicable interest rate for
interest charges will be the average rate earned by the SBA for the FHCF for
the six months preceding the start of the Contract Year. For balances paid
after the invoice due date, interest will accrue at this rate plus 5 percent.
The payment of reimbursements or refunds by the FHCF to the Company will be
offset by any amounts owed by that Company to the FHCF under this
paragraph.
(6) Company contact information. Companies
must submit Form FHCF C-1, Company Contact Information, by March 1 preceding
each Contract Year to the FHCF Administrator. A New Participant must submit
Form FHCF C-1 within 30 calendar days after writing its first Covered Policy.
This form must be updated by the Company as the information provided thereon
changes. The FHCF shall have the right to rely upon the information provided by
the Company to the FHCF on this form until receipt by the FHCF of a new
properly completed Form FHCF C-1 from the Company.
(7) Deadlines. If any deadline provided for
herein falls on a Saturday, Sunday or on a legal State of Florida or federal
holiday, then the actual due date will be the day immediately following the
applicable due date which is not a Saturday, Sunday or legal State of Florida
or federal holiday.
(8) All the
forms adopted and incorporated by reference in this rule may be obtained from
the FHCF website at https://fhcf.sbafla.com.
Notes
Rulemaking Authority 215.555(3) FS. Law Implemented 215.555(2), (3), (4), (5), (6), (7), (15), 627.351(6) FS.
New 5-17-99, Amended 6-19-00, 6-3-01, 6-2-02, 11-12-02, 5-13-03, 5-19-04, 8-29-04, 5-29-05, 5-10-06, 5-8-07, 6-8-08, 3-30-09, 8-2-09, 3-29-10, 8-8-10, 7-20-11, 5-22-12, 3-17-13, 4-24-14, 5-12-15, 3-13-16, 1-24-17, 2-5-18, 1-29-19, 9-17-19, 1-22-20, 2-8-21, 2-7-22, 8-18-22, 3-7-23, 2-6-24.
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