Florida Regulations 69O-190.058: Conditions for Retaining the Self-Insurance Privilege of Self-Insurers Funds
Current as of: 2024 | Check for updates
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(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 Fl. Admin. Code R. 69O-190.059
(b) Annual Summary Loss Reports on each member pursuant to Fl. Admin. Code R. 69O-190.062(1)(a)
(c) Annual Payroll Reports on each member pursuant to Fl. Admin. Code R. 69O-190.062(1)(b)
(d) Quarterly Financial Statements pursuant to Fl. Admin. Code R. 69O-190.059, and Status Reports pursuant to Fl. Admin. Code R. 69O-190.062(1)(c)
(e) Proof of servicing pursuant to Fl. Admin. Code R. 69O-190.031
(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 Fl. Admin. Code R. 69O-190.036
(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 Fl. Admin. Code R. 69O-190.032
(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. History-New 10-1-82, Amended 12-25-84, Formerly 38F-5.58, Amended 12-19-93, Formerly 38F-5.058.
(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 Fl. Admin. Code R. 69O-190.059
(b) Annual Summary Loss Reports on each member pursuant to Fl. Admin. Code R. 69O-190.062(1)(a)
(c) Annual Payroll Reports on each member pursuant to Fl. Admin. Code R. 69O-190.062(1)(b)
(d) Quarterly Financial Statements pursuant to Fl. Admin. Code R. 69O-190.059, and Status Reports pursuant to Fl. Admin. Code R. 69O-190.062(1)(c)
(e) Proof of servicing pursuant to Fl. Admin. Code R. 69O-190.031
(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 Fl. Admin. Code R. 69O-190.036
(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 Fl. Admin. Code R. 69O-190.032
(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. History-New 10-1-82, Amended 12-25-84, Formerly 38F-5.58, Amended 12-19-93, Formerly 38F-5.058.