Florida Regulations 69O-189.007

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§ 69O-189.007 Insurer Experience Reporting - Excessive Profits, Workers' Compensation Insurance.

(1) Any insurer authorized to transact workers' compensation and employer's liability insurance in Florida shall report the data required by Section 627.215, Florida Statutes, by completing and submitting to the Department of Insurance form |^DI4-15| "Workers' Compensation Excessive Profits Reporting Form" in accordance with the instructions provided therein.

(2) Data submitted on form |^DI4-15| is to be for Florida policyholders and shall be direct with respect to reinsurance. (3) Form |^DI4-15| is to be filed on or before July 1 of each year. (4) Data shall be reported on a consistent basis from year to year. Any change in accounting or actuarial technique used in developing data shall be explained and justified. (5) For the purposes of form DI4-15, the following definitions shall apply: (a) "Insurance group" shall mean one or more insurers operating under common management. (b) "Policyholder dividends applicable to the calendar year" shall mean policyholder dividends incurred in a given calendar year, which is calculated as policyholder dividends paid plus reserve for policyholder dividends declared and unpaid at the end of the calendar year minus reserve for policyholder dividends declared and unpaid at the beginning of the calendar year. These reserves for policyholder dividends declared and unpaid shall only include those dividends officially declared by the insurer's board of directors and specifically identifiable as payable to Florida policyholders. (c) "Cash" shall mean coins, currency, checks, drafts or money orders. (6) Form |^DI4-15|, Workers' Compensation Excess Profits Reporting Form F, as amended, is hereby incorporated by reference and shall take effect on January 1, 2001 and may be obtained from the Bureau of Property & Casualty Forms and Rates, Department of Insurance, Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0330. Specific Authority 624.308(1), 627.215 FS. Law Implemented 624.307(1), 627.215 FS. History-New 6-14-84, Amended 7-1-85, Formerly 4-59.061, Amended 6-1-88, Formerly 4-59.0061, Amended 12-20-00.