Florida Regulations 69L-5.105

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§ 69L-5.105 General Requirements. (repealed)

Repealed. (03-09-10)

(1) Employers approved for self-insurance privilege in accordance with Section 440.38, Florida Statutes, and these rules will be continuous unless and until voluntarily withdrawn or revoked. (2) A review of all self-insurance programs will be made periodically. Deterioration in the financial strength as indicated in the financial statements or summaries which may affect their strength to pay current and estimated future claims when due or significant increases in losses detected as a result of such reviews, shall result in changes to the prior requirements to continue to be self-insured. (3) Failure to comply with any of the rules herein or with any order of the division within the time prescribed shall be considered good cause for revocation or termination of the self-insurance privilege, within the meaning of Section 440.38(3), Florida Statutes. Noncompliance with any of the provisions of the Workers' Compensation Law, Chapter 440, Florida Statutes, particularly those relating to time and method of compensation payments, the furnishing of medical treatment and filing of accident and compensation reports and failure to pay any assessment or penalty, shall likewise be deemed good cause. (4) The division shall be given written notice of revocation or termination to the self-insurer. The self-insurer shall have fifteen (15) days from the date of receipt of the notice to request a hearing on the revocation or termination or to advise the division of the intent to submit an actuarial report and qualifying security deposit pursuant to Section 440.38(1)(b)2., Florida Statutes. Failure to mail a request for hearing or to advise the division of the intent to submit an actuarial report and qualifying security deposit within the time prescribed shall result in the revocation or termination becoming effective thirty (30) days from the date of receipt of the original notice. If a hearing is requested, in no event shall any revocation or termination become effective prior to the date that a hearing on the question is scheduled. Such notice shall be served personally or by certified mail upon the self-insurer. (5) A self-insurer who is a member of the Florida Self-Insurers Guaranty Association, Inc., and who voluntarily withdraws from self-insurance, on or after January 1, 1991, shall continue to file all reports required by this rule, in duplicate, with the division upon withdrawal, and at 12 month intervals thereafter until such time as the employer has satisfied the division that there is no remaining value to the claims incurred while the employer was self-insured. Should any of the financial statements so submitted fail to meet the financial standards set forth in Rule 4L- 5.106, F.A.C., the self-insurer shall provide periodic actuarial studies and security deposits in the same manner as an employer whose self-insurance privilege has been revoked as set forth in Section 440.38(1)(b)3., Florida Statutes. Specific Authority 440.38(1)(b), (2)(b) FS. Law Implemented 440.38(1)(b), (2)(b) FS. History New 5-19-97, Formerly 38F-5.105.