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June 26, 2012: Florida Cabinet meeting
June 26th, 2012
9:00 a.m.--Florida Cabinet meeting.
- For final adoption
- In Sections 634.011(7) and 634.041(12), F.S., the Florida Legislature created a new category of Motor Vehicle Service Agreement Companies called "Motor Vehicle Manufacturers." The purpose was to eliminate certain regulatory requirements for these large corporations under certain circumstances. Proposed amendments to Rules 69O-200.004,.005,.006,.009,.014,.015 address the legislative mandate to modify the Rules and forms to incorporate this new category.
- Section 627.062(6), F.S. granted insurers the right to arbitrate rate filing disputes with the OIR, as well as granted the Financial Services Commission the authority to adopt the referenced Rules regarding arbitration of rate filings. The law has been amended to remove the provision for arbitration. Therefore, 69O-170 Part IV is no longer relevant, nor does the OIR any longer have authority for such Rules. Consequently, these rules need to be repealed.
- For publication
- Rule 69O-164.030, entitled "Application of Rule 69O-164.020 to Various Product Designs," has been deemed unnecessary by the OIR and is proposed for repeal.
- Amendments to Rule 69O-137.001 would adopt the 2011 NAIC Quarterly Statement Instructions and the 2011 NAIC Accounting Practices and Procedures Manual.