Florida § 627.9405 - Authorized groups; filing requirements.

§ 627.9405. Authorized groups; filing requirements.

(1) No group long-term care insurance policy shall be delivered or issued for delivery in this state insuring more than one individual unless issued to one of the following groups: (a) One or more employers or labor organizations, or a trust or the trustees of a fund established by one or more employers or labor organizations, or a combination thereof, for employees or former employees or a combination thereof, or for members or former members or a combination thereof, of such employers or labor organizations. (b) Any professional, trade, or occupational association for its members or former or retired members, or a combination thereof, if such association: 1. Is composed of individuals all of whom are or were actively engaged in the same profession, trade, or occupation; and 2. Has been maintained in good faith for purposes other than obtaining insurance. (c) An association or a trust or the trustees of a fund established, created, or maintained for the benefit of members of one or more associations, which association or associations: 1. Have at the outset a minimum of 100 persons; 2. Have been organized and maintained in good faith for purposes other than that of obtaining insurance; 3. Have been in active existence for at least 1 year; and 4. Have a constitution and bylaws which provide that: a. The association or associations hold regular meetings not less than annually to further purposes of the members; b. Except for credit unions, the association or associations collect dues or solicit contributions from members; and c. The members have voting privileges and representation on the governing board and committees. (d) A group other than as described in paragraph (a), paragraph (b), or paragraph (c), subject to a determination by the office that: 1. The issuance of the group policy is not contrary to the best interest of the public; 2. The issuance of the group policy would result in economies of acquisition or administration; and 3. The benefits are reasonable in relation to the premiums charged. (2) No group long-term care policy may be issued or issued for delivery in this state to any of the groups specified in subsection (1) unless all members of the group, or all of any class or classes thereof, are declared eligible and acceptable to the insurer at the time of issuance of the policy or unless the policy is issued to a policyholder who is sponsoring the policy without contributing premiums to it. (3) Prior to advertising, marketing, or soliciting a group long-term care insurance policy in this state, the insurer shall demonstrate to the office that the requirements of this section have been met pursuant to the filing procedures specified in s. 627.410.