Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69O - OIR - Insurance Regulation › Chapter 69O-143 - DOMESTIC INSURERS › Section 69O-143.046 - Registration of Insurers

Current through Reg. 50, No. 138; July 16, 2024
(1) Every insurer
				which is authorized to do business in this state and which is a member of an
				insurance holding company system shall register with the Office by April 1,
				except a foreign insurer subject to disclosure requirements and standards
				adopted by statute or regulation in the jurisdiction of its domicile which are
				substantially similar to those contained in this rule and Rule
				69O-143.047, F.A.C. Any insurer
				which becomes subject to registration under this rule after April 1 shall
				register within fifteen days after it becomes subject to registration. The
				Office may require any authorized insurer which is a member of a holding
				company system which is not subject to registration under this rule to furnish
				a copy of the registration statement or other information filed by such
				insurance company with the insurance regulatory authority of domiciliary
				jurisdiction.
(2) All filings
				required by this rule shall be submitted electronically to the Office via the
				Regulatory Electronic Filing System, "REFS" at
http://www/floir.com/iportal
.
(3) Every insurer subject to registration
				shall file a registration statement on a Form OIR-D0-516, incorporated by
				reference in paragraph
				69O-143.046(15)(a),
				F.A.C. The form shall provide current information about:
(a) The capital structure, general financial
				condition, ownership and management of the insurer and any person controlling
				the insurer;
(b) The identity and
				relationship of every member of the insurance holding company system;
(c) The following agreements in force and
				transactions currently outstanding or which have occurred during the last
				calendar year between the insurer and its affiliates:
1. Loans, other investments, or purchases,
				sales or exchanges of securities of the affiliates by the insurer or of the
				insurer by its affiliates;
2.
				Purchases, sales, or exchanges of assets;
3. Transactions not in the ordinary course of
				business;
4. Guarantees or
				undertakings for the benefit of an affiliate which result in an actual
				contingent exposure of the insurer's assets to liability, other than insurance
				contracts entered into in the ordinary course of the insurer's
				business;
5. All management and
				service contracts and all cost-sharing arrangements;
6. Reinsurance agreements;
7. Dividends and other distributions to
				shareholders; and,
8. Consolidated
				tax allocation agreements.
(d) Any pledge of the insurer's stock,
				including stock of any subsidiary or controlling affiliate, for a loan made to
				any member of the insurance holding company system;
(e) If requested by the Office, the insurer
				shall include financial statements of or within an insurance holding company
				system, including all affiliates. Financial statements may include but are not
				limited to annual audited financial statements filed with the U.S. Securities
				and Exchange Commission (SEC) pursuant to the Securities Act of 1933, as
				amended or the Securities Exchange Act of 1934, as amended. An insurer required
				to file financial statements pursuant to this paragraph may satisfy the request
				by providing the Office with the most recently filed parent corporation
				financial statements that have been filed with the SEC;
(f) Other matters concerning transactions
				between registered insurers and any affiliates as may be included from time to
				time in any registration forms adopted or approved by the Office;
				and,
(g) Statements that the
				insurer's board of directors oversees corporate governance and internal
				controls and that the insurer's officers or senior management have approved,
				implemented, and continue to maintain and monitor corporate governance and
				internal control procedures.