Fla. Admin. Code Ann. R. 69O-151.008 - Duties of the Existing Insurer

Each existing insurer shall inform its responsible personnel of the requirements of these rules. Each existing insurer shall:

(1) Within ten (10) days from the date it receives the Form OIR-B2-312, rev. 07/23,as adopted in Rule 69B-151.010, F.A.C., furnish the policyowner, when requested a Form OIR-B2-313, rev. 07/23, as adopted in Rule 69B-151.010, F.A.C., concerning the existing life insurance. The values shown on Form OIR-B2-313 rev. 07/23, as adopted in Rule 69B-151.010, F.A.C.,shall be computed from the current policy year of the existing life insurance. Exemptions from compliance with the provisions of this section are set forth in Rule 69O-151.004, F.A.C.

(2) Maintain a file containing the following:

(a) Copies of the Form OIR-B2-312, rev. 07/23, as adopted in Rule 69B-151.010, F.A.C.,) received from replacing insurers; and,

(b) Copies of the fully completed Form OIR-B2-313, rev. 07/23, as adopted in Rule 69B-151.010, F.A.C., prepared pursuant to subsection 69O-151.008(1), F.A.C.

(3) This material shall be indexed by replacing insurer and held for three (3) years or until the conclusion of the next regular examination conducted by the Insurance Department of its domicile, whichever is later.

Notes

Fla. Admin. Code Ann. R. 69O-151.008

Rulemaking Authority 624.308, 626.9611, 626.9641 FS. Law Implemented 624.307(1), 626.9521, 626.9541, 626.9641 FS.

New 7-9-81, Formerly 4-24.05, Amended 2-2-83, Formerly 4-24.17, 4-24.017, 4-151.008, Amended by Florida Register Volume 49, Number 244, December 19, 2023 effective 1/4/2024.

New 7-9-81, Formerly 4-24.05, Amended 2-2-83, Formerly 4-24.17, 4-24.017, 4-151.008, Amended 1-4-24.