News & Updates


Fees for the Public Model

By:  David Yon

OIR held a public hearing on August 20 to consider a request by Florida International University (FIU) to increase the fees for running data though the public model. The current fees are set forth in rule 69O-170.0144 and that rule would be amended if the fee increase is approved. 

Dr. Shahid S. Hamid, the project director, stated the fee increase was necessary to end the subsidy that FIU was contributing to the cost of running the model. The record will be held open until August 31. OIR anticipates it may hold a second hearing on this rule.

The current fee formula is $2,400 base charge, plus an additional charge per policy – 3 cents per policy up to 200,000; 1.5 cents per policy for over 200,000 and up to 400,000; and 0.5 cent per policy for everything over 400,000.

The proposed new formula is $3,600 base fee plus 4 cents per policy up to 200,000 and 1 cent per policy for everything over 200,000 policies. Below are some examples of costs under both the old and new structure. 

Number of Policies Old Fee New Fee
10,000 $2700 $4000
50,000 $3900 $5600
100,000 $5400 $7600
500,000 $9900 $12,060