Florida Regulations 69O-136.015: Corporate Amendment Procedure to Amend an Existing Certificate of Authority to Add a New Line of Business
Current as of: 2024 | Check for updates
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(1) This rule applies to all authorized insurers, as defined in Florida Statutes § 624.09
(2) Any insurer seeking to add or delete a line of insurance on an existing certificate of authority, file a name change, redomesticate (between foreign jurisdictions only), change its statutory home office address, merge two or more foreign insurers, file a change of control of a foreign insurer, amend its articles of incorporation, amend its bylaws, change its address or contact notification, or amend its Service of Process shall comply with the directions on, or otherwise submit, the following applicable forms:
(a) Form OIR-C1-0508, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(b) Form OIR-C1-0510, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(c) Form OIR-C1-0511, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(d) Form OIR-C1-0512, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(e) Form OIR-C1-0522, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(f) Form OIR-B2-1093, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(g) Form OIR-C1-1416, incorporated by reference in Fl. Admin. Code R. 69O-136.100; and
(h) Form OIR-C1-1524, incorporated by reference in Fl. Admin. Code R. 69O-136.100
(3) Since the addition of any new line of business to a company’s certificate of authority may impact the company’s surplus and/or writing ratios, any such request to amend an existing certificate will be carefully evaluated by applying current standards required of an insurer seeking a certificate of authority from this state. The Office shall not authorize the addition of any lines of insurance to an insurer’s existing certificate of authority unless evidence is presented satisfactory to the Office that authorization of the additional lines of insurance would be in the best interests of the financial solvency of the insurer and in the best interests of the policyholders.
(4) All the forms listed in subsection (2) may be obtained from the Office’s website at http://www.floir.com and shall be submitted electronically via the Office’s iApply system at https://www.floir.com/iportal.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.09, 624.307(1), 624.404, 624.408, 624.413, 624.414, 624.416(4), 624.501(20), 624.610(11), 627.6488(1) FS. History-New 3-30-92, Amended 9-2-96, Amended 9-19-00, 11-18-02, Formerly 4-136.015, Amended 1-7-24.
Terms Used In Florida Regulations 69O-136.015
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(a) Form OIR-C1-0508, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(b) Form OIR-C1-0510, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(c) Form OIR-C1-0511, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(d) Form OIR-C1-0512, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(e) Form OIR-C1-0522, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(f) Form OIR-B2-1093, incorporated by reference in Fl. Admin. Code R. 69O-136.100;
(g) Form OIR-C1-1416, incorporated by reference in Fl. Admin. Code R. 69O-136.100; and
(h) Form OIR-C1-1524, incorporated by reference in Fl. Admin. Code R. 69O-136.100
(3) Since the addition of any new line of business to a company’s certificate of authority may impact the company’s surplus and/or writing ratios, any such request to amend an existing certificate will be carefully evaluated by applying current standards required of an insurer seeking a certificate of authority from this state. The Office shall not authorize the addition of any lines of insurance to an insurer’s existing certificate of authority unless evidence is presented satisfactory to the Office that authorization of the additional lines of insurance would be in the best interests of the financial solvency of the insurer and in the best interests of the policyholders.
(4) All the forms listed in subsection (2) may be obtained from the Office’s website at http://www.floir.com and shall be submitted electronically via the Office’s iApply system at https://www.floir.com/iportal.
Rulemaking Authority Florida Statutes § 624.308(1). Law Implemented 624.09, 624.307(1), 624.404, 624.408, 624.413, 624.414, 624.416(4), 624.501(20), 624.610(11), 627.6488(1) FS. History-New 3-30-92, Amended 9-2-96, Amended 9-19-00, 11-18-02, Formerly 4-136.015, Amended 1-7-24.