Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-137 - INSURER REPORTING REQUIREMENTS
Section 69O-137.014 - Notice of Temporary Discontinuance of Writing New Residential Property Insurance Policies

Universal Citation: FL Admin Code R 69O-137.014

Current through Reg. 50, No. 187; September 24, 2024

(1) In addition to meeting all other requirements of law, each authorized insurer intending to temporarily suspend writing new residential property insurance policies must submit the required notification to the Office the earlier of:

(a) 20 business days before the effective date of the temporary suspension of writing, or

(b) 5 business days before notifying its agents of the temporary suspension of writing.

(2) An authorized insurer is not required to provide notice of under paragraph (1) if the conditions of Section 624.4301(1)(a), F.S., are met and the temporary suspension is in response to:

(a) a hurricane that may make landfall in this state, or

(b) a declared state of emergency due to natural emergency as defined in 252.34(8), F.S.

(3) The required notification shall be submitted on Form OIR-A1-1500 (effective 7/23), entitled "Notice of Temporary Discontinuance of Writing New Residential Property Insurance Policies," which is hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-16186. The form may be obtained from https://www.floir.com.

(4) The notification shall be submitted via the Insurance Regulation Filing System (IRFS) application at https://irfs.fldfs.com/.

Rulemaking Authority 624.308(1), 624.4301, F.S. Law Implemented 624.4301, F.S.

- New 1-3-24.

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