8227169, 19-8.010 - Florida Administrative Rules, Law, Code, Register

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Notice: 8227169

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ADMINISTRATION OF THE FLORIDA HURRICANE CATASTROPHE FUND

Overview

RULE:

19-8.010	Reimbursement Contract
19-8.012	Procedures to Determine Ineligibility for Participation in the Florida Hurricane Catastrophe Fund and to Determine Exemption from Participation in the Florida Hurricane Catastrophe Fund due to Limited Exposure
19-8.013	Revenue Bonds Issued Pursuant to Section 215.555(6), F.S
19-8.029	Insurer Reporting Requirements and Responsibilities
19-8.030	Insurer Responsibilities (Repealed)

PURPOSE:

The State Board of Administration, Florida Hurricane Catastrophe Fund, seeks to amend the rules listed above to implement Section 215.555, Florida Statutes, including the changes made to the law during 2009.

SUMMARY:

The rules are being amended to reflect the 2009 legislative change in the contract year dates, to reflect the Administrator’s new address, and throughout non-substantive changes are made for consistency or clarity. Other than the contract year date, substantive changes are as follows: Rule 19-8.010, F.A.C., Reimbursement Contract, is being amended to adopt the 2010 Contract Year Reimbursement Contract, including Addenda. Other than the contract year date change, there are no substantive changes to Rule 19-8.012, F.A.C., Procedures to Determine Ineligibility for Participation in the Florida Hurricane Catastrophe Fund and to Determine Exemption from Participation in the Florida Hurricane Catastrophe Fund due to Limited Exposure. Rule 19-8.013, F.A.C., Revenue Bonds Issued Pursuant to Section 215.555(6), F.S., is being amended, for administrative purposes, to change the look-back period for determining the Florida Hurricane Catastrophe Fund’s rate of return for purposes of interest calculation from a 5 month look-back to a 4 month look-back. Rule 19-8.029, F.A.C., Insurer Reporting Requirements, is being amended to adopt the 2010 Data Call and 2010 Interim and Proof of Loss forms. Rule 19-8.030, F.A.C., Insurer Responsibilities, is being amended to adopt Exposure and Loss Examination Preparation Instructions and to adopt the 2010 Proof of Loss forms, L1A and L1B.

RULEMAKING AUTHORITY:

215.555(3) FS.

LAW:

215.555(2), (3), (4), (5), (6), (7), (10), (16), (17) FS.

PRINT PUBLISH DATE:

2/5/2010 Vol. 36/05

COMMENTS:

From 2/5/2010 To 2/26/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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