Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-170 - PROPERTY AND CASUALTY INSURANCE RATING
Section 69O-170.006 - Rate Manual Filings and Revisions
Universal Citation: FL Admin Code R 69O-170.006
Current through Reg. 50, No. 187; September 24, 2024
(1) Each insurer shall submit manual pages and a checklist page or manual revision notice specifying the rule of application, effective date and the page number of:
(a) Each new (or revised) manual page
included with the filing.
(b) Each
existing manual page being replaced by a new (or revised) manual
page.
(c) Each existing manual page
being deleted and not replaced.
(d)
Each unchanged manual page that continues to be applicable if requested by the
Office.
(2) The following shall be included on each manual page:
(a)
Insurer Name(s);
(b) Line of
Business and Program Name (if applicable);
(c) Page Number (each page should have a
unique number); and
(d) Revision
Date or other Date connected with the filing, e.g., filing date, effective
date, editing date, etc. (specify the type of date used).
(3)
(a)
Insurers shall include a separate cover letter and manual for each line of
business, as designated in paragraph (c) below.
(b) Except for private passenger automobile
insurance, homeowners and dwelling fire and liability, insurers authorized by a
rating organization to utilize the rating organization's loss costs and rules,
after those loss costs and rules have been approved for use by the Office, need
only file the loss cost multiplier to be used with those loss costs.
(c) For purposes of identifying filings
submitted to the Office, a line of business shall be identified by one of the
following. Additional identification may be used as needed. Filings for types
of insurance not on this list should contain appropriate identification.
1. Boiler and Machinery.
2. Commercial Automobile.
3. Commercial Fire and Allied Lines
(including Glass).
4. Commercial
Inland Marine.
5. Commercial
Multiple Line.
6. Credit Property
and Credit Automobile.
7.
Crime.
8. Farm.
9. Fidelity and Surety.
10. Other Liability (including Excess and
Umbrella Coverage).
11.
Homeowners.
12. Mobile
Homeowners.
13. Personal Inland
Marine.
14. Personal
Liability.
15. Personal
Property.
16. Private Passenger
Automobile.
17. Professional
Liability.
18. Dwelling Fire and
Liability.
(d) Insurers
that submit filings on a group basis may submit manual pages on a group basis,
provided each manual page identifies the insurers to which it is
applicable.
(4)
(a) All private passenger automobile and
homeowners insurance underwriting guidelines, for both new and renewal
business, are subject to filing requirements.
(b) For filings involving base rate
adjustments other than private passenger automobile and homeowners, insurers
shall describe in sufficient detail all changes to the underwriting guidelines
since the inception of the submitted experience period in order that the Office
may ascertain the actuarial impact upon proposed rates pursuant to Section
627.062, F.S.
(c) For the purpose of paragraph (4)(b);
1. Underwriting guidelines shall mean
qualitative standards affecting the eligibility of risks for insurance, but do
not include procedures for determining eligibility (such as delegations of
binding authority).
2. Qualitative
standards shall mean standards affecting the quality of risk such as loss
history, credit scoring, acceptable number of claims or claim frequencies,
required loss control, or violation points or prior accidents in the case of
motor vehicles; and does not include quantitative standards that relate to the
size of risks (such as square footage, number of vehicles, or gross receipts)
or standards that relate to the amount of coverage that will be
provided.
Rulemaking Authority 624.308(1) FS. Law Implemented 624.307, 627.062(2), 627.331 FS.
New 3-1-89, Formerly 4-72.006, 4-170.006, Amended 9-5-07.
Disclaimer: These regulations may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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