| 1 | Representative Brummer offered the following: |
| 2 |
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| 3 | Amendment to Amendment (324761) |
| 4 | Remove lines 23-112 and insert: |
| 5 | insurer or, if a reciprocal insurer, by the oath of the attorney |
| 6 | in fact or its like officer if a corporation. To facilitate |
| 7 | uniformity in financial statements and to facilitate office |
| 8 | analysis, the commission may by rule adopt the form for |
| 9 | financial statements approved by the National Association of |
| 10 | Insurance Commissioners in 2002, and may adopt subsequent |
| 11 | amendments thereto if the methodology remains substantially |
| 12 | consistent, and may by rule require each insurer to submit to |
| 13 | the office or such organization as the office may designate all |
| 14 | or part of the information contained in the financial statement |
| 15 | in a computer-readable form compatible with the electronic data |
| 16 | processing system specified by the office. |
| 17 | (6) In addition to information called for and furnished in |
| 18 | connection with its annual or quarterly statements, an insurer |
| 19 | shall furnish to the office as soon as reasonably possible such |
| 20 | information as to its transactions or affairs as the office may |
| 21 | from time to time request in writing. All such information |
| 22 | furnished pursuant to the office's request shall be verified by |
| 23 | the oath of two executive officers of the insurer or, as to |
| 24 | property insurers, the chief executive officer and chief |
| 25 | financial officer of each insurer or, if a reciprocal insurer, |
| 26 | by the oath of the attorney in fact or its like officers if a |
| 27 | corporation. |
| 28 | Section 31. Subsection (2) of section 624.448, Florida |
| 29 | Statutes, is amended to read: |
| 30 | 624.448 Assets of insurers; reporting requirements.-- |
| 31 | (2) Each domestic insurer shall file a report with the |
| 32 | office disclosing a material acquisition of assets, a material |
| 33 | disposition of assets, or a material nonrenewal, cancellation, |
| 34 | or revision of a ceded reinsurance agreement, unless the |
| 35 | material acquisition or disposition of assets or the material |
| 36 | nonrenewal, cancellation, or revision of a ceded reinsurance |
| 37 | agreement has been submitted to the office for review, approval, |
| 38 | or informational purposes under another section of the Florida |
| 39 | Insurance Code or a rule adopted thereunder. As to property |
| 40 | insurers, the chief executive officer and chief financial |
| 41 | officer of each insurer shall sign a sworn Statement of |
| 42 | Certification to accompany the report. The Statement of |
| 43 | Certification shall certify the appropriateness of the |
| 44 | information provided in and with the report and that the |
| 45 | information fairly presents, in all material respects, the |
| 46 | material acquisition of assets, the material disposition of |
| 47 | assets, or the material nonrenewal, cancellation, or revision of |
| 48 | a ceded reinsurance agreement. The Office of Insurance |
| 49 | Regulation shall promulgate by rule the Statement of |
| 50 | Certification. A copy of the report and each exhibit or other |
| 51 | attachment must be filed by the insurer with the National |
| 52 | Association of Insurance Commissioners. The report required in |
| 53 | this section is due within 15 days after the end of the calendar |
| 54 | month in which the transaction occurs. |
| 55 | Section 32. Paragraph (a) of subsection (2) of section |
| 56 | 627.062, Florida Statutes, is amended to read: |
| 57 | 627.062 Rate standards.-- |
| 58 | (2) As to all such classes of insurance: |
| 59 | (a) Insurers or rating organizations shall establish and |
| 60 | use rates, rating schedules, or rating manuals to allow the |
| 61 | insurer a reasonable rate of return on such classes of insurance |
| 62 | written in this state. A copy of rates, rating schedules, rating |
| 63 | manuals, premium credits or discount schedules, and surcharge |
| 64 | schedules, and changes thereto, shall be filed with the office |
| 65 | under one of the following procedures: |
| 66 | 1. If the filing is made at least 90 days before the |
| 67 | proposed effective date and the filing is not implemented during |
| 68 | the office's review of the filing and any proceeding and |
| 69 | judicial review, then such filing shall be considered a "file |
| 70 | and use" filing. In such case, the office shall finalize its |
| 71 | review by issuance of a notice of intent to approve or a notice |
| 72 | of intent to disapprove within 90 days after receipt of the |
| 73 | filing. The notice of intent to approve and the notice of intent |
| 74 | to disapprove constitute agency action for purposes of the |
| 75 | Administrative Procedure Act. Requests for supporting |
| 76 | information, requests for mathematical or mechanical |
| 77 | corrections, or notification to the insurer by the office of its |
| 78 | preliminary findings shall not toll the 90-day period during any |
| 79 | such proceedings and subsequent judicial review. The rate shall |
| 80 | be deemed approved if the office does not issue a notice of |
| 81 | intent to approve or a notice of intent to disapprove within 90 |
| 82 | days after receipt of the filing. |
| 83 | 2. If the filing is not made in accordance with the |
| 84 | provisions of subparagraph 1., such filing shall be made as soon |
| 85 | as practicable, but no later than 30 days after the effective |
| 86 | date, and shall be considered a "use and file" filing. An |
| 87 | insurer making a "use and file" filing is potentially subject to |
| 88 | an order by the office to return to policyholders portions of |
| 89 | rates found to be excessive, as provided in paragraph (h). |
| 90 | 3. The chief executive officer and chief financial officer |
| 91 | of each property insurer shall sign a sworn Statement of |
| 92 | Certification to |