OFFICE OF INSURANCE REGULATION
NOVEMBER 12, 2003
ITEM SUBJECT RECOMMENDATION
1. MINUTES OF THE FINANCIAL SERVICES COMMISSION, AUGUST 12, 2003.
(ATTACHMENT 1) FOR APPROVAL
2. APPROVAL FOR ADOPTION OF AMENDMENTS TO RULE 4-189.0055, RECORDS AND REPORTS OF INFORMATION BY WORKERS’ COMPENSATION INSURERS REQUIRED.
The rule is required by Florida Statutes to implement reporting and recording duties of worker’s compensation insurers. The rule applies to statistical agents that review the plans to make sure the insurer or self-insurance fund is meeting the requirements. The rule also addresses how statistical agents are selected by the Office.
(ATTACHMENT 2) FOR APPROVAL
3. APPROVAL FOR ADOPTION OF AMENDMENTS TO RULE 4-193.065, CONTINUING CARE CONTRACTS; FORMS INCORPORATED BY REFERENCE
The rule adopts a form which is being revised to bring it into compliance with Florida Statutes. The purpose of the minimum liquid reserve calculation is to assure that proper reserves are in place to protect residents in the event of financial difficulties of providers.
(ATTACHMENT 3) FOR APPROVAL
4. APPROVAL FOR ADOPTION OF AMENDMENTS TO RULE CHAPTER 4-202, DONOR ANNUITY ORGANIZATIONS
The amendments update the rule and incorporate forms to bring it into compliance with Florida Statutes. The changes: 1) reflect that the forms are now Office of Insurance Regulation forms rather than Department of Insurance forms; 2) brings the rule and forms compliance with all statutory requirements; 3) delete obsolete form references; and 4) provide a website address where the forms can be obtained.
(ATTACHMENT 4) FOR APPROVAL
5. APPROVAL FOR ADOPTION OF AMENDMENTS TO RULE CHAPTER 4-164, VALUATION AND NONFORFEITURE
The rule adopts nationally accepted NAIC guidelines in accordance with Florida Statutes. The rule strengthens reserves to pay life insurance claims. This NAIC uniform provision has been adopted by 41 states.
(ATTACHMENT 5) FOR APPROVAL