Public Hurricane Model – Fee Schedule
By: David Yon
The 2008 property bill (Chapter 2008-66, Laws of Florida) makes a provision for the use of the public hurricane loss projection model by residential property insurers. This access includes “all assumptions and factors and all detailed loss results, for the purpose of calculating rate indications in a rate filing and for analytical purposes, including any analysis or evaluation of the model required under actuarial standards of practice.” Further, it provides that by January 1, 2009, OIR is to establish by rule a fee schedule for access to and use of the model.
The Office is proceeding with rule development. The workshop on rule 69O-170.0144 was held July 22, 2008, at 9:30 a.m. in Room 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida. The Office is accepting written comments until Friday, July 25th.