Fla. Admin. Code Ann. R. 69O-137.008 - Filing of Statistical and Quarterly Reports for Individually Rated Risks and Excess Rates

(1) Purpose and Scope. The purpose of this rule is to provide procedures for filing statistical reports for individually rated risks pursuant to Section 627.062(3)(a), F.S., and for excess rates pursuant to Section 627.171, F.S., since they are not rated in accordance with the insurer's rates, rating schedules, rating manuals, and underwriting rules which have been filed with the Office. Every insurer in this state which is authorized to transact any of the lines of insurance subject to Part II of Chapter 627, F.S., and which rates risks on an individual or excess basis shall be subject to this rule. Reports for individually rated risks and excess rates shall be received by the Office on a quarterly basis for each company. The information shall be reported within 45 days of the close of each quarter on Form OIR-B1-588, http://www.flrules.org/Gateway/reference.asp?No=Ref-08272, "Office of Insurance Regulation/Property & Casualty - Quarterly Report/Individually Rated Risks and Excess Rates," rev. 7/03, which is hereby adopted and incorporated by reference. A quarterly report need not be filed if no individually rated risks or risks subject to excess rates have been written during the quarter for which the report would otherwise be due. However, if an insurer does not file Form OIR-B1-588 because of not having written such business for four consecutive quarters, then for the quarter after the fourth consecutive quarter for which no business was written, the insurer shall file Form OIR-B1-588 and check the box thereon indicating that the insurer has not been subject to filing for the past four consecutive quarters. The form may be obtained from http://www.floir.com/iportal. A separate report must be completed for each quarter. The reports are due 45 days after the close of each quarter.

(2) Submitting the Report. Forms shall be filed electronically at https://www.floir.com/iportal.

Notes

Fla. Admin. Code Ann. R. 69O-137.008

Rulemaking Authority 624.308(1), 627.331(1) FS. Law Implemented 624.307(1), 624.418, 624.4211, 624.424(6), 627.062, 627.171, 627.331 FS.

New 6-9-93, Amended 9-19-94, Formerly 4-137.008, Amended by Florida Register Volume 43, Number 138, July 18, 2017 effective 7/30/2017, Amended by Florida Register Volume 46, Number 247, December 22, 2020 effective 1/3/2021.

New 6-9-93, Amended 9-19-94, Formerly 4-137.008, Amended 7-30-17, 1-3-21.