Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. PCS for SB 1980 (070118)
Barcode 905140
CHAMBER ACTION
Senate House
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04/10/2006 01:19 PM .
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11 The Committee on Banking and Insurance (Alexander) recommended
12 the following amendment:
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14 Senate Amendment (with title amendment)
15 On page 28, between lines 30 and 31,
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17 insert:
18 Section 8. Section 627.06281, Florida Statutes, is
19 amended to read:
20 627.06281 Public hurricane loss projection model;
21 reporting of data by insurers.--
22 (1) Within 30 days after a written request for loss
23 data and associated exposure data by the office or a type I
24 center within the State University System established to study
25 mitigation, residential property insurers and licensed rating
26 and advisory organizations that compile residential property
27 insurance loss data shall provide loss data and associated
28 exposure data for residential property insurance policies to
29 the office or to a type I center within the State University
30 System established to study mitigation, as directed by the
31 office, for the purposes of developing, maintaining, and
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10:40 PM 04/06/06 s1980c-bi17-j18
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. PCS for SB 1980 (070118)
Barcode 905140
1 updating a public model for hurricane loss projections. The
2 loss data and associated exposure data provided shall be in
3 writing.
4 (2) The office may not use the public model for
5 hurricane loss projection referred to in subsection (1) for
6 any purpose under s. 627.062 or s. 627.351 until the model has
7 been submitted to the Florida Commission on Hurricane Loss
8 Projection Methodology for review under s. 627.0628 and the
9 commission has found the model to be accurate and reliable
10 pursuant to the same process and standards as the commission
11 uses for the review of other hurricane loss projection models.
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13 (Redesignate subsequent sections.)
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16 ================ T I T L E A M E N D M E N T ===============
17 And the title is amended as follows:
18 On page 2, line 16, after the first semicolon,
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20 insert:
21 amending s. 627.06281, F.S.; limiting use of
22 the public hurricane loss projection model
23 pending review by and certain findings of the
24 Florida Commission on Hurricane Loss Projection
25 Methodology;
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10:40 PM 04/06/06 s1980c-bi17-j18