726159, 69O-142.015 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 726159

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

INSURER CONDUCT

Overview

RULE:

69O-142.015

Standardized Requirements Applicable to Insurers After Hurricanes or Natural Disasters

PURPOSE:

Section 24 of Senate Bill 1980 created Section 627.7019, F.S.  It requires the Financial Services Commission to adopt by rule standardized requirements that may be applied to insurers as a consequence of a hurricane or other natural disaster.

SUMMARY:

The purpose of the rule is to adopt standardized rules with respect to claims reporting requirements, grace periods for payment of premiums, and performance of other duties by insureds and temporary postponement of cancellations or nonrenewals.  These rules are based on Hurricane Orders issued by the Office of Insurance Regulation in the 2004 and 2005 hurricane seasons.

RULEMAKING AUTHORITY:

624.308, 627.7019 FS.

LAW:

624.307(1), 627.7019 FS.

PRINT PUBLISH DATE:

9/29/2006 Vol. 32/39

COMMENTS:

From 9/29/2006 To 10/20/2006 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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