12708084, 69O-162.102 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 12708084

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

ANNUITY CONTRACTS

Overview

RULE:

69O-162.102	Purpose
69O-162.103	Definitions
69O-162.104	Individual Annuity or Pure Endowment Contracts
69O-162.106	Application of 1994 GAR Table and the 2012 IAR Mortality Table
69O-162.108	Tables

PURPOSE:

The change adopts annuity mortality tables for use in financial reporting of annuity reserves as set forth in Section 625.121 Florida Statutes. The added new mortality table, recently adopted by the NAIC, is based upon recent annuitant mortality of insurers. Adoption will create uniformity among states following NAIC model regulation.

SUBJECT:

Adoption of annuity mortality tables for use in reserves.

RULEMAKING AUTHORITY:

624.308, 625.121(5)(i) FS.

LAW:

624.307(1), 625.121, FS.

PRINT PUBLISH DATE:

3/4/2013 Vol. 39/43

RELATED STATUTES
AND LAWS:

624.308, 625.121(5)(i) FS., 624.307(1), 625.121, FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://www.flrules.org/gateway/ruleno.asp?id=69O-162.102&PDate=3/4/2013&Section=1

REFERENCE MATERIALS:

No reference(s).

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