Fla. Admin. Code Ann. R. 69O-149.021 - Form Filing Procedures

(1)

(a)

1. All filings shall be made in accordance with paragraph (1)(b), below.

2.

a. For purposes of the rules in this part and the time periods in Section 627.410, F.S., a filing is considered "filed" with the Office upon the receipt of the material required by paragraph (1)(b), on business days between the hours of 8:00 a.m. and 5:00 p.m. eastern time. Filings received after 5:00 p.m. shall be considered to be received the following business day.

b. For purposes of the rules in this part, the term "filed" does not mean "approved." The term "filed" refers to the date on which the filing is filed with the Office and is the date on which the approval process of Section 627.410, F.S., commences.

(b) A form filing shall consist of the following items:

1.

a. A brief transmittal letter explaining the type and nature of the filing, including the subject, the purpose, and any unusual features relative to products being sold by other companies. The letter shall also indicate if the filing is new or is a resubmission.

b. If the filing is a resubmission, the letter shall indicate the Florida filing number of the prior filing.

c. If the filing is either a group life or a group annuity form, the letter shall indicate the Florida Statute number under which the form is to be issued.

2. Form OIR-B2-1507, "Office of Insurance Regulation Life and Health Forms and Rates Universal Standardized Data Letter" as adopted in Rule 69O-149.022, F.A.C., completely filled out in accordance with Form OIR-B2-1507A, "Office of Insurance Regulation Life and Health Forms and Rates Universal Standardized Data Letter Instruction Sheet" as adopted in Rule 69O-149.022, F.A.C.

3. The checklist appropriate for the type of form being filed and any information required by that checklist. All forms and checklists are listed and adopted in Rule 69O-149.022, F.A.C.

4. Any certifications of rates, cost indices, or other items, if required by the appropriate checklist or by rule.

5. The form(s) being filed. Each form shall include the name of the company, and have an identifying form number in the lower left hand corner of the first page of the form.

6. Each filing shall contain an actuarial memorandum, certified and signed by a qualified actuary. The actuarial memorandum for life and annuity product filings shall demonstrate compliance with the Standard Valuation Law (Section 625.121, F.S.). In addition, filings for life insurance products other than annuities shall demonstrate compliance with the Standard Nonforfeiture Law (Section 627.476, F.S.).

(2) Each filing shall contain forms for only one type of coverage, i.e., ordinary life, variable life, major medical, etc. However, a filing may contain more than one form if the forms are for the same type of coverage.

(3) Each filing shall contain forms for only one company.

(4) Combination forms, products that contain both life and health coverages, shall be submitted separately but simultaneously and shall be clearly marked to indicate that they are combination filings, one as life and one as health.

(5) Complete filings shall be submitted electronically to http://www.floir.com/iportal.

(6)

(a) Every insurer submitting a form filing shall be notified as to whether the filing has been affirmatively approved by the Office, or has been disapproved by the Office within any statutory review period of the date of receipt of the filing.

(b) Submissions that do not include the required material to meet the definition of a filing, or that include material that is illegible, shall not be accepted and shall be returned as incomplete without processing.

(c) Every insurer submitting a form filing for which the Office determines that additional information is necessary for a proper review will be notified of the additional information within the statutory limit. Every insurer shall submit the required data by a date certain stated in the clarification letter to allow the Office sufficient time to perform a proper review. Failure to correct the filing by the date certain in the clarification letter will result in an affirmative disapproval of the filing by the Office.

(7) Definitions. As used in this rule:

(a) New Filing - A new filing is one that is being submitted for the first time. This includes submission of revisions to a previously approved form.

(b) Resubmission - A filing submission in response to a final disapproval from the Office is a resubmission. It is given a new filing number by the Office. This term does not apply to ongoing correspondence under the same filing number before an affirmative approval or disapproval by the Office.

Notes

Fla. Admin. Code Ann. R. 69O-149.021

Rulemaking Authority 624.308, 624.424(1)(c) FS. Law Implemented 624.307, 625.121, 627.410, 627.476, 627.807 FS.

New 10-29-91, Amended 8-23-93, 4-18-94, 8-22-95, 5-15-96, 4-4-02, 6-19-03, Formerly 4-149.021, Amended 5-18-04.

New 10-29-91, Amended 8-23-93, 4-18-94, 8-22-95, 5-15-96, 4-4-02, 6-19-03, Formerly 4-149.021, Amended 5-18-04.