Fla. Admin. Code Ann. R. 69O-171.010 - Insurer Assignment Agreement Reporting - Calendar Year Experience

(1) Any insurer authorized to transact residential property or commercial property insurance shall report, for each such line of insurance, the information required by Section 627.7152(12), F.S., or required by rule, on and pursuant to the instructions in Form OIR-B1-2221, "Assignment of Benefits (AOB) Experience Reporting Form," effective 3/20, hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-12418.

(2) For purposes of this rule, "residential property and commercial property insurance" includes the following lines of business:

(a) Allied Lines, excluding Time Element;

(b) Commercial Multiple Peril;

(c) Earthquake;

(d) Farmowners Multiple Peril;

(e) Glass;

(f) Homeowners Multiple Peril;

(g) Industrial Extended Coverage;

(h) Industrial Fire;

(i) Mobile Homeowners Multiple Peril;

(j) Mobile Homeowners Physical Damage Only; and

(k) Property (Fire).

(3) The following data elements are to be included in the data reporting form:

(a) NAIC Company Code

(b) Company Name

(c) Unique Claim ID

(d) Type of Policy

(e) County of Loss

(f) Building Replacement Cost

(g) Peril

(h) Date of Loss/Incident

(i) Date Reported to Insurer

(j) Date of First Claim Payment

(k) Date of Most Recent Payment on Claim

(l) Date Closed

(m) Number of AOBs

(n) Date Earliest AOB was Executed

(o) Date Earliest AOB was Reported to Insurer

(p) Assignee's Presuit Settlement Demand

(q) Insurer's Presuit Settlement Offer

(r) Judgment Obtained by Assignee

(s) Litigation on Claim (Y/N)

(t) Reasonable Attorney Fees Awarded Under Section 627.7152(10), F.S. to the Insurer

(u) Reasonable Attorney Fees Awarded Under Section 627.7152(10), F.S. to the Assignee

(v) Total Indemnity Amount Paid by Insurer

(w) Total Allocated Loss Adjustment Expenses (ALAE) Paid by Insurer

(x) Re-opened Claim (Y/N)

(y) If Claim was Previously Reported in a Prior AOB Experience Reporting Form, Most Recent Year Reported

(z) If Claim was Previously Reported in a Prior AOB Experience Reporting Form, Claim ID for that Report

(4) The first report will be due on January 30, 2022, for claims paid in Calendar Year 2021. Reports for the preceding calendar year are due on or before January 30 of each year and shall be filed electronically at https://www.floir.com/iportal.

Notes

Fla. Admin. Code Ann. R. 69O-171.010

Rulemaking Authority 624.308(1), 624.424(1)(c), 627.7152(12) FS. Law Implemented 624.307(1), 624.424, 627.7152 FS.

Adopted by Florida Register Volume 46, Number 247, December 22, 2020 effective 1/3/2021.

New 1-3-21.