Fla. Admin. Code Ann. R. 69O-167.024 - Rate Filings for Inland Marine Insurance
(1) This rule applies to marine insurance
that is subject to Chapter 627, F.S.
(2) Section
627.021(2)(c),
F.S, states that Chapter 627, F.S., does not apply to ocean marine insurance as
distinguished from inland marine insurance.
(a) Section
627.021(2)(d),
F.S., states that rates and rules are not required to be filed for commercial
inland marine risks.
(b) The
specific exclusion of commercial inland marine risks indicates that rates and
rules for personal inland marine risks must continue to be filed with the
Office.
(c) For purposes of this
rule, personal inland marine is defined as insurance covering non-business
property of a portable or movable nature that would typically be included in or
with a homeowner's policy or a separate policy insuring one or more articles of
property, including, but not limited to, jewelry, furs, art objects,
silverware, glassware, small boats, sports equipment.
(d) For purposes of this rule, commercial
inland marine is defined as commercial or industrial property, often but not
always of a portable or movable nature or instrumentalities of transportation
or communication, that would typically be included in or with a commercial
lines policy or written in a separate policy insuring one or more such items of
property, including, but not limited to, commercial goods in transit, traffic
signals, bridges, tunnels.
Notes
Rulemaking Authority 624.308(1) FS. Law Implemented 624.607, 627.021, 627.062 FS.
New 1-27-92, Formerly 4-167.024, Amended 9-22-10.
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