Florida Regulations 69O-170.005: Use of Filed Rates
Current as of: 2024 | Check for updates
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(1) This rule applies to all property and casualty insurance to which Section 627.062 or 627.0651, F.S., applies.
(2) Any rate filing made with the Office shall elect whether rates are filed as “”file and use”” or “”use and file”” as defined in Section 627.062(2) or 627.0651(1), F.S.
(3) The filing of rates requires that specific rates be filed and precludes the filing of ranges of rates.
(4) All rate filings shall be submitted pursuant to Fl. Admin. Code R. 69O-170.013
(5) For “”use and file”” filings, any filing which is not made within the timelines provided by statute, e.g., the filing is received by the Office more than 30 days after the effective date, shall result in the Office’s issuance of a Notice of Intent to disapprove.
(6)(a) Changing the filing designation during the review of the filing from “”file and use”” to “”use and file”” or from “”use and file”” to “”file and use””, shall constitute a withdrawal of the filing and require a timely resubmission under the revised filing type as a new filing.
(b) Notwithstanding the above and following the approval of the filing by the Office, pursuant to Section 627.062 or 627.0651, F.S., the filer may amend the effective date for a “”file and use”” filing to be shorter than the 90 or 60 days indicated in Section 627.062 or 627.0651, F.S., as long as the amended effective date is subsequent to the approval of the Office and provides the required statutory policyholder notice.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.307, 627.062, 627.0651 FS. History-New 10-21-87, Formerly 4-72.005, Amended 1-27-92, Formerly 4-170.005, Amended 9-5-07.
Terms Used In Florida Regulations 69O-170.005
- Statute: A law passed by a legislature.
(3) The filing of rates requires that specific rates be filed and precludes the filing of ranges of rates.
(4) All rate filings shall be submitted pursuant to Fl. Admin. Code R. 69O-170.013
(5) For “”use and file”” filings, any filing which is not made within the timelines provided by statute, e.g., the filing is received by the Office more than 30 days after the effective date, shall result in the Office’s issuance of a Notice of Intent to disapprove.
(6)(a) Changing the filing designation during the review of the filing from “”file and use”” to “”use and file”” or from “”use and file”” to “”file and use””, shall constitute a withdrawal of the filing and require a timely resubmission under the revised filing type as a new filing.
(b) Notwithstanding the above and following the approval of the filing by the Office, pursuant to Section 627.062 or 627.0651, F.S., the filer may amend the effective date for a “”file and use”” filing to be shorter than the 90 or 60 days indicated in Section 627.062 or 627.0651, F.S., as long as the amended effective date is subsequent to the approval of the Office and provides the required statutory policyholder notice.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.307, 627.062, 627.0651 FS. History-New 10-21-87, Formerly 4-72.005, Amended 1-27-92, Formerly 4-170.005, Amended 9-5-07.