Statutes, codes, and regulations
Florida Administrative Code
Department 69 - DEPARTMENT OF FINANCIAL SERVICESDivision 69O - OIR - Insurance Regulation
Chapter 69O-136 - APPLICATION PROCEDURES FOR COMPANIES SEEKING TO DO BUSINESS IN FLORIDA
Section 69O-136.015 - Corporate Amendment Procedure to Amend an Existing Certificate of Authority to Add a New Line of Business

Fla. Admin. Code R. 69O-136.015

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Current through Reg. 50, No. 222; November 13, 2024
Section 69O-136.015 - Corporate Amendment Procedure to Amend an Existing Certificate of Authority to Add a New Line of Business
(1) This rule applies to all authorized insurers, as defined in section 624.09, F.S.
(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 Rule 69O-136.100, F.A.C.;
(b) Form OIR-C1-0510, incorporated by reference in Rule 69O-136.100, F.A.C.;
(c) Form OIR-C1-0511, incorporated by reference in Rule 69O-136.100, F.A.C.;
(d) Form OIR-C1-0512, incorporated by reference in Rule 69O-136.100, F.A.C.;
(e) Form OIR-C1-0522, incorporated by reference in Rule 69O-136.100, F.A.C.;
(f) Form OIR-B2-1093, incorporated by reference in Rule 69O-136.100, F.A.C.;
(g) Form OIR-C1-1416, incorporated by reference in Rule 69O-136.100, F.A.C.; and
(h) Form OIR-C1-1524, incorporated by reference in Rule 69O-136.100, F.A.C.
(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.

Fla. Admin. Code Ann. R. 69O-136.015

Rulemaking Authority 624.308(1) FS. 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.

New 3-30-92, Amended 9-2-96, Amended 9-19-00, 11-18-02, Formerly 4-136.015, Amended by Florida Register Volume 49, Number 248, December 26, 2023 effective 1/7/2024.

New 3-30-92, Amended 9-2-96, Amended 9-19-00, 11-18-02, Formerly 4-136.015, Amended 1-7-24.