Florida Regulations 69O-188.023: Filing of the Annual Statement by Commercial Self-Insurance Funds
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(1) Each commercial self-insurance fund shall submit electronically to http://www.floir.com/iportal. For the purpose of complying with rule Fl. Admin. Code Chapter 69O-137, a commercial self-insurance fund shall be considered an authorized insurer, except that the fund’s annual statement shall be due on or before April 1 of each year.
(2) As an aggregate write-in on the balance sheet of the Annual Statement for assets and policyholders’ surplus, an entry for future investment income on losses and allocated loss adjustment expense reserves and unallocated loss adjustment expense reserves shall be reflected. Future investment income shall be calculated as follows:
A + B + C – D
A
=
Losses and Allocated Loss Adjustment Expense Reserves
B
=
Unallocated Loss Adjustment Expense Reserves
C
=
Excess of Statutory Reserves over Statement Reserves
D
=
Present Value of A + B + C
(3) If a commercial self-insurance fund elects to report on a policy year basis under Fl. Admin. Code R. 69O-188.022, then the commercial self-insurance fund shall file a supplemental schedule on a policy year basis of Schedule P of the NAIC Annual Statement Form for Fire and Casualty Insurers.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 624.424, 624.470, 624.474, 624.488 FS. History-New 12-17-90, Formerly 4-78.023, 4-188.023, Amended 7-30-17.
Terms Used In Florida Regulations 69O-188.023
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
A + B + C – D
A
=
Losses and Allocated Loss Adjustment Expense Reserves
B
=
Unallocated Loss Adjustment Expense Reserves
C
=
Excess of Statutory Reserves over Statement Reserves
D
=
Present Value of A + B + C
(3) If a commercial self-insurance fund elects to report on a policy year basis under Fl. Admin. Code R. 69O-188.022, then the commercial self-insurance fund shall file a supplemental schedule on a policy year basis of Schedule P of the NAIC Annual Statement Form for Fire and Casualty Insurers.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 624.424, 624.470, 624.474, 624.488 FS. History-New 12-17-90, Formerly 4-78.023, 4-188.023, Amended 7-30-17.