10811055, 69L-5.201 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 10811055

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Division of Workers' Compensation

Chapter:

RULES FOR SELF-INSURERS UNDER THE WORKERS' COMPENSATION ACT

Overview

RULE:

69L-5.201

Definitions

PURPOSE:

The original intent of the definition in Rule 69L-5.201, F.A.C., was to avoid the complexities of an affiliated self-insurer structure where a parent company was able to, but did not wish to, hold the self-insurance authorization. If the parent company instead wanted to execute a parental guaranty under Rule 69L-5.215, F.A.C., it would be precluded from doing so under the current language of subsection 69L-5.201(2), F.A.C. The added language will allow an affiliated self-insurer structure backed by the financial strength of a parent company (that may or may not operate in Florida) for purposes of providing a parental guaranty for affiliated self-insurers under Rule 69L-5.215, F.A.C., where the parent company elects not to hold the self-insurance authorization itself.

SUMMARY:

The proposed change amends the definition of “affiliated self-insurer” to provide consistency with the parental guaranty rule.

RULEMAKING AUTHORITY:

440.38(1), (2), (3), 440.385(6), 440.591 FS.

LAW:

440.38(1), (2), (3), 440.385(1), (3), (6) FS.

PRINT PUBLISH DATE:

12/22/2011 Vol. 37/51

COMMENTS:

From 12/22/2011 To 1/12/2012 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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