Rule 4-137.010 Holocaust Victims Insurance Act

4-137.010 Holocaust Victims Insurance Report and Standards of Proof.

(1) This rule implements the "Holocaust Victims Insurance Act" by establishing the procedure by which:

(a) An insurer must file a report relating to the insurance claims of Holocaust victims or insureds, or their heirs, descendants, or beneficiaries with the Department;

(b) The method by which the Department will monitor and verify compliance with the provisions of subsections (7) and (8) of section 626.9543, Florida Statutes; and

(c) The standards of proof necessary to substantiate a claim against an insurer pursuant to section 626.9543(5)(b), Florida Statutes.

(2) For the purposes of this rule unless the context otherwise requires:

(a) "Department" means the Florida Department of Insurance.

(b) "Insurer" means an insurer doing business in this state, not excluding an authorized insurer or an eligible surplus lines insurer.

(c) "Eligible surplus lines insurer" shall have the meaning set forth in section 626.914(2), Florida Statutes.

(d) "Authorized" shall have the meaning set forth in section 624.09, Florida Statutes.

(e) "Holocaust victim" shall have the meaning set forth in section 626.9543, Florida Statutes.

(f) "Insurance policy" shall have the meaning set forth in section 626.9543, Florida Statutes.

(g) "Legal relationship" shall have the meaning set forth in section 626.9543, Florida Statutes, not excluding a legal relationship arising by merger or acquisition.

(h) "Proceeds" shall have the meaning set forth in section 626.9543, Florida Statutes.

(3)      (a) Each insurer shall annually file a report with the Department no later than December 31st of each year, beginning December 31, 1999. The report shall             reflect the best effort by the insurer to provide the required information.

(b) In subsequent years, if an insurer has no change or no additional information to report, the insurer may report "no change" in letter form.

(c) A holding company may file a report for all members of the holding company system; however, the holding company must supply the Federal Employer Identification Number (FEIN) for each member company for which it is making the required reporting.

(d) If an insurer's report to the International Commission investigating unpaid World War II era claims complies with the reporting requirements of section 626.9543, Florida Statutes, and this rule, and a copy of such report is filed with the Department, the report will be accepted as satisfaction of the reporting requirements herein.

(e) If an insurer’s report to another state regarding unpaid World War II era claims complies with the reporting requirements of section 626.9543, Florida Statutes, and this rule, and a copy of such report is filed with the Department, the report will be accepted as satisfaction of the reporting requirements herein.

(4) Each report shall contain the following separate sections:

(a) Below a heading entitled "Relationship with Insurance Companies," the report shall identify any insurance company, with which the insurer has a legal relationship, which issued an insurance policy to a Holocaust victim or insured.

1. The report shall provide:

a. The date on which the legal relationship commenced;

b. A description of the legal relationship;

c. The country of domicile and licensure of the insurance company; and

d. The country (and district or city, if available) in which the insurance company issued any insurance policy to a Holocaust victim or insured.

2. The information shall include a detailed description of the efforts made to determine whether the insurer, or any insurer with which the reporting insurer has a legal relationship, issued an insurance policy to a Holocaust victim or insured.

(b) Below a heading entitled "Number and Total Value of Policies," the report shall, with respect to each insurance company that issued an insurance policy to a Holocaust victim or insured, provide the number and total value in current U.S. dollars, of the insurance policies unpaid in full or in part, including, if available, an annual running tally of exposure.

1. The information shall include a detailed explanation of the methodologies used by the insurer to determine the number and total value of the insurance policies required to be reported under this rule.

2. To the best of its ability, the insurer shall indicate whether there were additional insurance policies issued to Holocaust victims by it (or any insurance company with which it has a legal relationship) for which there is no direct evidence or documentation. The insurer shall also provide a complete description of the efforts being made to document the existence of such insurance policies.

(c) Below a heading entitled "Claims Filed," the report shall provide a list of any insurance claim filed by a policyholder who is a Holocaust victim, or insured, or by his or her beneficiary, heir, or descendant, against the insurer or against any insurance company with which the insurer has a legal relationship, on an insurance policy. The report should include the disposition thereof, with a detailed explanation of any attempt to locate insurance claims of Holocaust victims or insureds, or their heirs, descendants, or beneficiaries.

(d) Below a heading entitled "Attempts to Locate Beneficiaries," the report shall provide a detailed explanation of the attempts made by the insurer, or by any insurance company having a legal relationship with the insurer, to locate the beneficiaries of any insurance policy issued to a Holocaust victim or insured for which no claim of benefits has been made, including a list of any heirs, descendants, or beneficiaries who have been located, and for every such policy: the name or identity of the purchaser, the name or identity of the beneficiary, the date and place of policy issuance, the type of policy, and the name or identity of the agent.

(e) Below a heading entitled "Explanation of Denial or Pending Payment," the report shall provide a detailed explanation of any attempt to identify insurance claims of Holocaust victims or insureds which were denied. The report shall also include a detailed explanation as to why such claims were denied or payment withheld.

(f) The insurer may supplement the report with additional information as it becomes available.

(5) The report shall be submitted in a spreadsheet format compatible with Microsoft Excel. The report shall be submitted on diskette to the Florida Department of Insurance, Division of Insurer Services, 200 East Gaines Street, Room 121, Tallahassee, Florida 32399-0326, or via e-mail to Holocaust@ doi.state.fl.us. An insurer that has no information to report may submit its report stating that fact in letter form.

(6) To achieve statutorily required restitution, an insurer shall pay in full on behalf of, or cause to be paid in full by, an insurance company with which it has a legal relationship, the amount due with respect to any substantiated insurance claim made by policyholders who are Holocaust victims or insureds, from or by their heirs, descendants, or beneficiaries. The amount due will be calculated based on the value of U.S. dollars at the time of payment. Payment shall include interest from January 1, 1946 to the date of the claim payment to be calculated pursuant to Section 55.03, Florida Statutes or calculated pursuant to the interest rate adopted by the International Commission investigating the unpaid World War II era claims.

(7) For purposes of this rule and pursuant to section 626.9643(5)(b), Florida Statutes, a claim shall be considered adequately substantiated by one of the following:

(a) An original or copy of an insurance policy;

(b) Information in the records of the insurer that evidences the existence of an insurance policy that remains unpaid in full or in part to the policyholder, or his or her heirs, descendants, or beneficiaries;

(c) Written confirmation from the insurer that its files verify the policy status, including the name or identification of the insured, their heirs, descendants, or beneficiaries; or

(d) Other evidence, including parol evidence, that a reasonable person would accept as reliable in the conduct of his or her affairs, as contemplated by section 626.9543(5)(b), Florida Statutes.

Specific authority 624.308(1), 624.424(1)(c), 626.9543(11), FS. Law Implemented 624.307(1), 626.9543 FS. History - New __________.