Florida Statutes Part I - Rates And Rating Organizations (Ss. 627.011-627.381)

• 627.011 - Short Title.
  This part of this chapter may be referred to as the “Rating Law.”History.—s. 412, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss....
• 627.021 - Scope Of This Part.
  (1) This part of this chapter applies only to property, casualty, and surety insurances on subjects of insurance resident, located, or to be performed in this...
• 627.031 - Purposes Of This Part; Interpretation.
  (1) The purposes of this part are:(a) To promote the public welfare by regulating insurance rates as herein provided to the end that they shall not be...
• 627.041 - Definitions.
  As used in this part:(1) “Rate” means the unit charge by which the measure of exposure or the amount of insurance specified in a policy of...
• 627.0612 - Administrative Proceedings In Rating Determinations.
  (1) In any proceeding to determine whether rates, rating plans, or other matters governed by this part comply with the law, the appellate court shall set...
• 627.0613 - Consumer Advocate.
  The Chief Financial Officer must appoint a consumer advocate who must represent the general public of the state before the department and the office. The...
• 627.062 - Rate Standards.
  (1) The rates for all classes of insurance to which the provisions of this part are applicable may not be excessive, inadequate, or unfairly discriminatory.(2) As to...
• 627.0621 - Transparency In Rate Regulation.
  (1) DEFINITIONS.—As used in this section, the term:(a) “Rate filing” means any original or amended rate residential property insurance filing.(b) “Recommendation” means any proposed, preliminary, or final recommendation...
• 627.0625 - Commercial Property And Casualty Risk Management Plans.
  (1) For the purposes of this section, the term:(a) “Commercial property insurance” means insurance as defined in s. 624.604, but limited to coverage of commercial risks, excluding...
• 627.0628 - Florida Commission On Hurricane Loss Projection Methodology; Public Records Exemption; Public Meetings Exemption.
  (1) LEGISLATIVE FINDINGS AND INTENT.—(a) Reliable projections of hurricane losses are necessary in order to assure that rates for residential property insurance meet the statutory requirement that...
• 627.06281 - Public Hurricane Loss Projection Model; Reporting Of Data By Insurers.
  (1) Within 30 days after a written request for loss data and associated exposure data by the office or the Florida International University center established to...
• 627.0629 - Residential Property Insurance; Rate Filings.
  (1) It is the intent of the Legislature that insurers provide savings to consumers who install or implement windstorm damage mitigation techniques, alterations, or solutions to...
• 627.06291 - Excess Profits Of Residential Property Insurer; Return.
  A residential property insurer shall return all excess profits to policyholders except as otherwise directed by the Office of Insurance Regulation. A residential property insurer...
• 627.06292 - Reports Of Hurricane Loss Data And Associated Exposure Data; Public Records Exemption.
  (1) Reports of hurricane loss data and associated exposure data that are specific to a particular insurance company, as reported by an insurer or a licensed...
• 627.0645 - Annual Filings.
  (1) Each rating organization filing rates for, and each insurer writing, any line of property or casualty insurance to which this part applies, except:(a) Workers’ compensation and...
• 627.06501 - Insurance Discounts For Certain Persons Completing Driver Improvement Course.
  (1) Any rate, rating schedule, or rating manual for the liability, personal injury protection, and collision coverages of a motor vehicle insurance policy filed with the...
• 627.0651 - Making And Use Of Rates For Motor Vehicle Insurance.
  (1) Insurers shall establish and use rates, rating schedules, or rating manuals to allow the insurer a reasonable rate of return on motor vehicle insurance written...
• 627.0652 - Insurance Discounts For Certain Persons Completing Safety Course.
  (1) Any rates, rating schedules, or rating manuals for the liability, personal injury protection, and collision coverages of a motor vehicle insurance policy filed with the...
• 627.0653 - Insurance Discounts For Specified Motor Vehicle Equipment.
  (1) Any rates, rating schedules, or rating manuals for the liability, personal injury protection, and collision coverages of a motor vehicle insurance policy filed with the...
• 627.06535 - Electric Vehicles; Restrictions On Imposing Surcharges.
  An insurer may not impose a surcharge on the premium for motor vehicle insurance written on an electric vehicle, as defined in s. 320.01, if...
• 627.0654 - Insurance Discounts For Buildings With Fire Sprinklers.
  (1) Any rates, rating schedules, or rating manuals for a new or renewal fire insurance policy for an existing or newly constructed building, whether used for...
• 627.0655 - Policyholder Loss Or Expense-related Premium Discounts.
  An insurer or person authorized to engage in the business of insurance in this state may include, in the premium charged an insured for any...
• 627.066 - Excessive Profits For Motor Vehicle Insurance Prohibited.
  (1) As used herein:(a) “Private passenger automobile business” means that insurance business that is written on a family automobile policy, standard automobile policy, or personal automobile or...
• 627.0665 - Automatic Bank Withdrawal Agreements; Notification Required.
  Any insurer licensed to issue insurance in the state who has an automatic bank withdrawal agreement with an insured party for the payment of insurance...
• 627.072 - Making And Use Of Rates.
  (1) As to workers’ compensation and employer’s liability insurance, the following factors shall be used in the determination and fixing of rates:(a) The past loss experience and...
• 627.091 - Rate Filings; Workers’ Compensation And Employer’s Liability Insurances.
  (1) As to workers’ compensation and employer’s liability insurances, every insurer shall file with the office every manual of classifications, rules, and rates, every rating plan,...
• 627.0915 - Rate Filings; Workers’ Compensation, Drug-free Workplace, And Safe Employers.
  (1) The office shall approve rating plans for workers’ compensation and employer’s liability insurance that give specific identifiable consideration in the setting of rates to employers...
• 627.0916 - Agricultural Horse Farms.
  Notwithstanding any other provision of this chapter to the contrary, any rates, rating schedules, or rating manuals for workers’ compensation and employer’s liability insurance filed...
• 627.092 - Workers’ Compensation Administrator.
  There is created within the office the position of Workers’ Compensation Administrator to monitor carrier practices in the field of workers’ compensation.History.—s. 21, ch. 78-300;...
• 627.093 - Application Of S. 286.011 To Workers’ Compensation And Employer’s Liability Insurances.
  Section 286.011 shall be applicable to every rate filing, approval or disapproval of filing, rating deviation from filing, or appeal from any of these regarding...
• 627.096 - Workers’ Compensation Rating Bureau.
  (1) There is created within the office a Workers’ Compensation Rating Bureau, which shall make an investigation and study of all insurers authorized to issue workers’...
• 627.101 - When Filing Becomes Effective; Workers’ Compensation And Employer’s Liability Insurances.
  (1) The office shall review filings as to workers’ compensation and employer’s liability insurances as soon as reasonably possible after they have been made in order...
• 627.111 - Effective Date Of Filing.
  (1) If, pursuant to s. 627.101(2), the office determines to hold a public hearing as to a filing, or it holds such a public hearing pursuant...
• 627.141 - Subsequent Disapproval Of Filing; Workers’ Compensation And Employer’s Liability Insurances.
  If at any time after a filing has been approved by it or has otherwise become effective the office finds that the filing no longer...
• 627.151 - Basis Of Approval Or Disapproval Of Workers’ Compensation Or Employer’s Liability Insurance Filing; Scope Of Disapproval Power.
  (1) In determining at any time whether to approve or disapprove a filing as to workers’ compensation or employer’s liability insurance, or to permit the filing...
• 627.1615 - Workers’ Compensation Applicant Discrimination.
  Insurers shall not refuse to provide workers’ compensation coverage on the basis of the applicant’s premium volume.History.—s. 52, ch. 90-201; s. 50, ch. 91-1; s....
• 627.162 - Requirements For Premium Installments; Delinquency, Collection, And Check Return Charges; Attorney’s Fees.
  (1) Insurers providing workers’ compensation coverage under chapter 440 shall provide, upon request of the employer, policies providing for the payment of premiums by installment for...
• 627.171 - Excess Rates.
  (1) With written consent of the insured signed prior to the policy inception date and filed with the insurer, the insurer may use a rate in...
• 627.191 - Adherence To Filings; Workers’ Compensation And Employer’s Liability Insurances.
  No insurer or employee thereof, and no agent, shall make or issue a contract or policy of workers’ compensation or employer’s liability insurance except in...
• 627.192 - Workers’ Compensation Insurance; Employee Leasing Arrangements.
  (1) The purpose of this section is to ensure that an employer who leases some or all of its workers properly obtains workers’ compensation insurance coverage...
• 627.211 - Deviations; Workers’ Compensation And Employer’s Liability Insurances.
  (1) Every member or subscriber to a rating organization shall, as to workers’ compensation or employer’s liability insurance, adhere to the filings made on its behalf...
• 627.212 - Workplace Safety Program Surcharge.
  The office shall approve a rating plan for workers’ compensation coverage insurance that provides for carriers voluntarily to impose a surcharge of no more than...
• 627.215 - Excessive Profits For Commercial Property And Commercial Casualty Insurance Prohibited.
  (1)(a) Each insurer group writing commercial property insurance as defined in s. 627.0625, commercial umbrella liability insurance as defined in s. 627.0625, or commercial casualty insurance...
• 627.221 - Rating Organizations; Licensing; Fee.
  (1) A person, whether located within or outside this state, may make application to the office for a license as a rating organization. As to property...
• 627.231 - Subscribers To Rating Organizations.
  (1) Subject to rules and regulations which have been approved by the office as reasonable, each rating organization shall permit any insurer, not a member, to...
• 627.241 - Notice Of Changes.
  Every rating organization shall notify the office promptly of every change in:(1) Its constitution, its articles of agreement or association, or its certificate of incorporation, and...
• 627.251 - Bureau Rules Not To Affect Dividends.
  No rating organization shall adopt any rule the effect of which would be to prohibit or regulate the payment of dividends, savings, or unabsorbed premium...
• 627.261 - Actuarial And Technical Services.
  Any rating organization may subscribe for or purchase actuarial, technical, or other services; and such services shall be available to all members and subscribers without...
• 627.281 - Appeal From Rating Organization; Workers’ Compensation And Employer’s Liability Insurance Filings.
  (1) Any member or subscriber to a rating organization may appeal to the office from the action or decision of such rating organization in approving or...
• 627.285 - Independent Actuarial Peer Review Of Workers’ Compensation Rating Organization.
  The Financial Services Commission shall at least once every other year contract for an independent actuarial peer review and analysis of the ratemaking processes of...
• 627.291 - Information To Be Furnished Insureds; Appeal By Insureds; Workers’ Compensation And Employer’s Liability Insurances.
  (1) As to workers’ compensation and employer’s liability insurances, every rating organization and every insurer which makes its own rates shall, within a reasonable time after...
• 627.301 - Advisory Organizations.
  (1) No advisory organization shall conduct its operations in this state unless and until it has filed with the office:(a) A copy of its constitution, articles of...
• 627.311 - Joint Underwriters And Joint Reinsurers; Public Records And Public Meetings Exemptions.
  (1) Every group, association, or other organization of insurers which engages in joint underwritings or joint reinsurance shall be subject to regulation with respect thereto as...
• 627.312 - Transitional Provisions.
  Effective upon this act becoming a law:(1) Notwithstanding s. 627.311(5), no policy in subplan “D” of the Florida Workers’ Compensation Joint Underwriting Association is subject to...
• 627.3121 - Public Records And Public Meetings Exemptions.
  (1) The following records held by the Florida Workers’ Compensation Joint Underwriting Association, Inc., are confidential and exempt from s. 119.07(1) and s. 24(a), Art. I...
• 627.313 - Workers’ Compensation Joint Underwriting Plan; Audit Requirements.
  The Workers’ Compensation Joint Underwriting Association is subject to the Florida Single Audit Act, as provided in s. 215.97, if the association expends a total...
• 627.314 - Concerted Action By Two Or More Insurers.
  (1) Subject to and in compliance with the provisions of this part authorizing insurers to be members or subscribers of rating or advisory organizations or to...
• 627.318 - Records.
  Every insurer, rating organization, and advisory organization and every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance shall...
• 627.331 - Recording And Reporting Of Loss, Expense, And Claims Experience; Rating Information.
  (1) The commission may promulgate rules and statistical plans which shall thereafter be used by each insurer in the recording and reporting of its loss, expense,...
• 627.351 - Insurance Risk Apportionment Plans.
  (1) MOTOR VEHICLE INSURANCE RISK APPORTIONMENT.—Agreements may be made among casualty and surety insurers with respect to the equitable apportionment among them of insurance which may...
• 627.3511 - Depopulation Of Citizens Property Insurance Corporation.
  (1) LEGISLATIVE INTENT.—The Legislature finds that the public policy of this state requires the maintenance of a residual market for residential property insurance. It is the...
• 627.3512 - Recoupment Of Residual Market Deficit Assessments.
  (1) The Legislature finds and declares that all assessments paid by an insurer or insurer group as a result of a levy by any residual market...
• 627.3513 - Standards For Sale Of Bonds By Citizens Property Insurance Corporation.
  (1)(a) The purpose of this section is to provide standards for the sale of bonds pursuant to s. 627.351(2) and (6).(b) The term “corporation,” as used in...
• 627.3515 - Market Assistance Plan; Property And Casualty Risks.
  (1) The office shall adopt a market assistance plan to assist in the placement of risks of applicants who are unable to procure property insurance as...
• 627.3517 - Consumer Choice.
  No provision of s. 627.351, s. 627.3511, or s. 627.3515 shall be construed to impair the right of any insurance risk apportionment plan policyholder, upon...
• 627.3518 - Citizens Property Insurance Corporation Policyholder Eligibility Clearinghouse Program.
  The purpose of this section is to provide a framework for the corporation to implement a clearinghouse program by January 1, 2014.(1) As used in this...
• 627.35191 - Required Reports.
  (1) By February 1 of each year, the Florida Hurricane Catastrophe Fund and Citizens Property Insurance Corporation shall each submit a report to the Legislature and...
• 627.35193 - Consumer Reporting Agency Request For Claims Data From Citizens Property Insurance Corporation.
  Upon the request of a consumer reporting agency, as defined by the federal Fair Credit Reporting Act, 15 U.S.C. ss. 1681 et seq., which consumer...
• 627.357 - Medical Malpractice Self-insurance.
  (1) DEFINITIONS.—As used in this section, the term:(a) “Fund” means a group or association of health care providers authorized to self-insure.(b) “Health care provider” means any:1. Hospital licensed under...
• 627.361 - False Or Misleading Information.
  No person shall willfully withhold information from or knowingly give false or misleading information to the office, any statistical agency designated by the office, any...
• 627.371 - Hearings.
  (1) Any person aggrieved by any rate charged, rating plan, rating system, or underwriting rule followed or adopted by an insurer, and any person aggrieved by...
• 627.381 - Penalty For Violation.
  (1) The office may, if it finds that any person or organization has violated any provision of this part, impose an administrative fine pursuant to s....

Last modified: September 23, 2016