23694692, 69O-149.006 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 23694692

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FILING OF FORMS AND RATES FOR LIFE/HEALTH INSURANCE

Overview

RULE:

69O-149.006

Actuarial Memorandum

PURPOSE:

The amendments change the manner in which an insurer’s target loss ratio may be increased or reduced.

SUMMARY:

An insurer may increase the target loss ratio for an individual or group policy form if it can justify the proposed change.  An insurer may reduce the target loss ratio of an individual or group policy form upon demonstration and justification of an increase in administrative costs, but the reduction must comply with maximum amounts stated in the rule.

RULEMAKING AUTHORITY:

624.308(1), 627.410(6)(b), (e) FS

LAW:

627.410(1), (2), (6), 627.411(1)(e) FS

PRINT PUBLISH DATE:

9/28/2020 Vol. 46/189

COMMENTS:

From 9/28/2020 To 10/19/2020 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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