10077250, 69O-138.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10077250

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FINANCIAL EXAMINATIONS AND REQUIREMENTS

Overview

RULE:

69O-138.001

NAIC Financial Condition Examiners Handbook Adopted

PURPOSE:

This rule is being amended to adopt the 2010 and 2011 NAIC Financial Condition Examiners Handbooks. The current rule adopted the 2006 and 2009 versions.

SUMMARY:

Section 624.316, Florida Statutes, requires the Office to examine insurer’s financial condition, using generally accepted accounting procedures. This statute also allows the Office to adopt the NAIC Financial Condition Examiners Handbooks to facilitate these exams. By adopting the newest versions of the handbook, this rule ensures that the procedures used by the Office to examine insurers are the current generally accepted accounting practices.

RULEMAKING AUTHORITY:

624.308(1), 624.316(1)(c) FS.

LAW:

624.316(1)(c) FS.

PRINT PUBLISH DATE:

7/8/2011 Vol. 37/27

COMMENTS:

From 7/8/2011 To 7/29/2011 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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