Florida Regulations 69O-170.018: Review of Property and Casualty Rates
Current as of: 2024 | Check for updates
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(1) The phrase in Sections 627.062(2)(g) and 627.0651(10), F.S., which reads, “”for a period of 1 year after the effective date of the filing”” relates to rates which have been given final approval by the Office, as well as to rates which have been deemed approved.
(2) Sections 627.062(2)(g) and 627.0651(10), F.S., allow the Office to disapprove a rate as excessive after the passage of one (1) year from the effective date of a filing, without making a finding that a material misrepresentation or material error was made by the insurer or was contained in the filing.
(3) For purposes of this rule, the effective date of a filing is the new business effective date.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 627.062(2)(g), 627.0651(10) FS. History-New 3-14-96, Formerly 4-170.018.
(2) Sections 627.062(2)(g) and 627.0651(10), F.S., allow the Office to disapprove a rate as excessive after the passage of one (1) year from the effective date of a filing, without making a finding that a material misrepresentation or material error was made by the insurer or was contained in the filing.
(3) For purposes of this rule, the effective date of a filing is the new business effective date.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 627.062(2)(g), 627.0651(10) FS. History-New 3-14-96, Formerly 4-170.018.