OIR Seeks Amendments to Holding Company Rules
The Office of Insurance Regulation held a second workshop on a series of proposed changes to rules governing insurance holding company systems, transactions with affiliates, and insurance company acquisitions. The requirements are set forth in administrative rules 69O-143.046, 69O-143.047, and 69O-143.056. Most of the provisions in these rules have been on the books for many years and have not tracked updates to holding company regulations, particularly the NAIC model act and regulations. In general, the changes proposed by the OIR will cause Florida’s rules to become substantially similar to the models. The OIR is accepting comments on its current workshop drafts through November 3.