Florida Regulations 69O-189.004

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§ 69O-189.004 Deviation Filing Information.

Florida Statutes authorize the filing of premium deviations which automatically expire after a period of one year unless refiled and reapproved. Any such premium deviation filing shall include the following information:

(1) Proposed effective date of deviation. (2) Proposed deviation percentage. (3) The basis for the proposed deviation including all relevant factors to explain the justification for the deviation request. (4) Calendar year earned premium, accident year incurred losses, accident year loss adjustment expense, and loss ratios of the preceding three years. Show the ratio of accident year loss adjustment expense to accident year incurred losses for each year, including Florida experience for the company filing for the deviation. If no Florida experience is available for part of the experience period requested, so state and show the experience in the group as a whole. (5) Provide an exhibit showing anticipated expenses for the period of the deviation. This exhibit should show production expenses and general expenses. All companies are generally expected to have the same taxes and profit and contingencies as included in National Council on Compensation Insurance (hereinafter referred to as NCCI) filings. Do not include taxes or profit and contingencies unless justification for such factors is provided. (6) As support for expense exhibits, show actual expenses for the latest three years for production and general expenses. (7) Section 627.211, Florida Statutes, states that the deviation is to be applied to the premiums produced by the rating system. Since minimum premiums, expense constants, and premium discounts have been filed based on industrywide experience, no deviation will be allowed to these unless specific justification is provided. Indicate in the filing where the uniform premium deviation will be applied and provide a copy of your manual page showing how the deviation will be applied. (8) The filing should state if the company is a domestic, foreign, or alien insurer. (9) A copy of the filing must be submitted to the NCCI. To assure that premium deviation filings are acted upon on a timely basis, such filings should be submitted to the Bureau of Property and Casualty Forms and Rates, Florida Department of Insurance, ninety days in advance of the proposed effective date. Filings shall be accompanied with a self-addressed, stamped envelope for return of final order. Specific Authority 624.308(1) FS. Law Implemented 624.307(1), 627.211 FS. History-New 6-4-92.