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Florida Statutes (Last Updated: April 21, 2021) |
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TITLE XXXVII. INSURANCE |
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CHAPTER 627. INSURANCE RATES AND CONTRACTS |
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PART I. RATES AND RATING ORGANIZATIONS |
SECTION 627.06292. Reports of hurricane loss data and associated exposure data; public records exemption.
Latest version.
- 1(1) 2Reports of hurricane loss data and associated exposure data that are specific to a particular insurance company, as reported by an insurer or a licensed rating organization to the office or to a center at a state university pursuant to s. 43627.06281, 44are exempt from s. 48119.07(1) 49and s. 24(a), Art. I of the State Constitution.58(2) 59For the purposes of this section, “loss data and associated exposure data” means the type, age, wind mitigation features, and location of each property insured; the amount and type of coverage written on each of those properties; the amount, date, and type of damage paid for by the insurer on each property; and the amount of any reserves held by an insurer for future payments or expenses on damages associated with the date or dates of occurrence of hurricanes.138(3) 139On October 1, 2011, and on each October 1 thereafter, the Florida International University center that develops, maintains, and updates the public model for hurricane loss projections shall publish a report summarizing loss data and associated exposure data collected from residential property insurers and licensed rating and advisory organizations. The Florida International University center shall submit the report annually, on or before October 1, to the Governor, the President of the Senate, and the Speaker of the House of Representatives.219(a) 220Such report must include a summary of the data supplied by residential property insurers and licensed rating and advisory organizations from September 1 of the prior year to August 31 of the current year, and must include the following information:2601. 261The total amount of insurance written by county.2692. 270The number of property insurance policies by county.2783. 279The number of property insurance policies by county and by construction type.2914. 292The number of property insurance policies by county and by decade of construction.3055. 306The number of property insurance policies by county and by deductible amount.3186. 319The number of property insurance policies by county and by wind mitigation features when the information is supplied by the residential property insurer or licensed rating and advisory organization.3487. 349The total amount of hurricane losses by county and by decade of construction.3628. 363The total amount of hurricane losses by county and by deductible amount.3759. 376The total amount of hurricane losses by county and by wind mitigation features when the information is supplied by the residential property insurer or licensed rating and advisory organization.405(b) 406Separate compilations of the data obtained shall be presented in order to use the public model for calculating rate indications and to update, validate, or calibrate the public model. Additional detail and a description of the operation and maintenance of the public model may be included in the report.455(c) 456The report may not contain any information that identifies a specific insurer or policyholder.
