Florida Statutes 627.231 – Subscribers to rating organizations
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Florida Statutes 627.231
- Member: means an insurer who participates in or is entitled to participate in the management of a rating, advisory, or other organization. See Florida Statutes 627.041
- Rating organization: means every person, other than an authorized insurer, whether located within or outside this state, who has as his or her object or purpose the making of rates, rating plans, or rating systems. See Florida Statutes 627.041
- Subscriber: means an insurer which is furnished at its request:(a) With rates and rating manuals by a rating organization of which it is not a member; or(b) With advisory services by an advisory organization of which it is not a member. See Florida Statutes 627.041(1) Subject to rules and regulations which have been approved by the office as reasonable, each rating organization shall permit any insurer, not a member, to subscribe to its rating services. As to property and marine rating organizations, an insurer shall be so permitted to subscribe to rating services for any kind of insurance, subdivision thereof, or class of risk or a part or combination thereof for which the rating organization is authorized so to act. As to casualty and surety rating organizations, an insurer shall be so permitted to subscribe to rating services for any kind of insurance or subdivision thereof for which the rating organization is authorized so to act. The rating organization shall give notice to subscribers of proposed changes in such rules and regulations.(2) The reasonableness of any rule or regulation in its application to subscribers, or the refusal of any rating organization to admit an insurer as a subscriber, shall, at the request of any subscriber or any such insurer, be reviewed by the office. If the office finds that such rule or regulation is unreasonable in its application to subscribers, it shall order that such rule or regulation shall not be applicable to subscribers. If the rating organization fails to grant or reject an insurer’s application for subscribership within 30 days after it was made, the insurer may request a review by the office as if the application had been rejected. If the office finds that the insurer has been refused admittance to the rating organization as a subscriber without justification, it shall order the rating organization to admit the insurer as a subscriber. If it finds that the action of the rating organization was justified, it shall make an order affirming its action.(3) Each rating organization shall furnish its rating services without discrimination to its members and subscribers.