Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-190 - RULES FOR SELF-INSURERS UNDER THE WORKERS' COMPENSATION ACT
Section 69O-190.058 - Conditions for Retaining the Self-Insurance Privilege of Self-Insurers Funds

Universal Citation: FL Admin Code R 69O-190.058

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

(1) The self-insurance privilege of a self-insurers fund is granted continuously until revoked.

(2) A review of all self-insurers fund programs will be made annually. As a result of such reviews, changes in the prior requirements to self-insure or the imposition of additional requirements in order to continue to be self-insured may be made pursuant to Rules 69O-190.060 and 69O-190.061, F.A.C.

(3) In addition to complying with the continuing requirements for self-insurance, all self-insurers funds shall be required to submit the following documents and reports on a continuing basis:

(a) Annual financial statements, audited financial statements, and actuarial reports pursuant to Rule 69O-190.059, F.A.C.

(b) Annual Summary Loss Reports on each member pursuant to paragraph 69O-190.062(1)(a), F.A.C.

(c) Annual Payroll Reports on each member pursuant to paragraph 69O-190.062(1)(b), F.A.C.

(d) Quarterly Financial Statements pursuant to Rule 69O-190.059, F.A.C., and Status Reports pursuant to paragraph 69O-190.062(1)(c), F.A.C.

(e) Proof of servicing pursuant to Rule 69O-190.031, F.A.C.

(f) Proof of excess coverage pursuant to Rules 69O-190.061 and 69O-190.035, F.A.C.

(g) Copies of endorsements to excess policies pursuant to Rule 69O-190.036, F.A.C.

(h) Copies of surety bonds or riders pursuant to Rules 69O-190.060 and 69O-190.032, F.A.C.

(i) Proof of cash securities pursuant to Rule 69O-190.032, F.A.C.

(j) Reporting changes in coverage of the membership pursuant to subsection 69O-190.062(3), F.A.C.

(k) Changes in by-laws or trust agreement and written policies pursuant to subsection 69O-190.064(20), F.A.C.

(l) Fidelity bonds, riders, insurance policies or endorsements pursuant to subsection 69O-190.064(5), F.A.C.

(m) Copies of new member applications pursuant to subsection 69O-190.062(2), F.A.C.

(n) Estimated Breakdown of Policy Year Expenses pursuant to subsection 69O-190.059(6), F.A.C.

(4) Whenever the Office determines that the fund has knowingly submitted an application containing false or misleading information, the Office may proceed with revocation of the self-insurer status of the fund.

(5) If any fund intentionally submits any false or misleading document or report required by these rules, the Office may proceed with revocation of the self-insurer status of the fund.

Rulemaking Authority 440.39(1)(b), (2)(b), 624.4621 FS. Law Implemented 440.39(1)(b), (2)(b), 624.4621 FS.

New 10-1-82, Amended 12-25-84, Formerly 38F-5.58, Amended 12-19-93, Formerly 38F-5.058.

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