Florida Senate - 2010 SB 1664
By the Committee on Banking and Insurance
597-02033-10 20101664__
1 A bill to be entitled
2 An act relating to a review under the Open Government
3 Sunset Review Act; amending s. 627.06292, F.S.,
4 relating to an exemption from public-records
5 requirements for reports of hurricane loss data and
6 associated exposure data that are specific to a
7 particular insurance company; requiring the Florida
8 International University center to annually publish a
9 report summarizing loss data and associated exposure
10 data collected from residential property insurers and
11 licensed rating and advisory organizations; requiring
12 the center to file the report with the Governor and
13 Legislature; saving the exemption from repeal under
14 the Open Government Sunset Review Act; deleting
15 provisions that provide for the repeal of the
16 exemption; providing an effective date.
17
18 Be It Enacted by the Legislature of the State of Florida:
19
20 Section 1. Section 627.06292, Florida Statutes, is amended
21 to read:
22 627.06292 Reports of hurricane loss data and associated
23 exposure data; public records exemption.—
24 (1) Reports of hurricane loss data and associated exposure
25 data that are specific to a particular insurance company, as
26 reported by an insurer or a licensed rating organization to the
27 office or to a center at a state university pursuant to s.
28 627.06281, are exempt from s. 119.07(1) and s. 24(a), Art. I of
29 the State Constitution.
30 (2) For the purposes of this section, “loss data and
31 associated exposure data” means the type, age, wind mitigation
32 features, and location of each property insured; the amount and
33 type of coverage written on each of those properties; the
34 amount, date, and type of damage paid for by the insurer on each
35 property; and the amount of any reserves held by an insurer for
36 future payments or expenses on damages associated with the date
37 or dates of occurrence of hurricanes.
38 (3) On October 1, 2011, and each subsequent October 1, the
39 Florida International University center that develops,
40 maintains, and updates the public model for hurricane loss
41 projections shall publish a report summarizing loss data and
42 associated exposure data collected from residential property
43 insurers and licensed rating and advisory organizations. The
44 Florida International University center shall annually submit
45 the report on or before October 1 to the Governor, the President
46 of the Senate, and the Speaker of the House of Representatives.
47 (a) Such report must include a summary of the data supplied
48 by residential property insurers and licensed rating and
49 advisory organizations from September 1 of the prior year to
50 August 31 of the current year, including:
51 1. The total amount of insurance written by county.
52 2. The number of property insurance policies by county.
53 3. The number of property insurance policies by county and
54 by construction type.
55 4. The number of property insurance policies by county and
56 by decade of construction.
57 5. The number of property insurance policies by county and
58 by deductible amount.
59 6. The number of property insurance policies by county and
60 by wind mitigation features when the information is supplied by
61 the residential property insurer or licensed rating and advisory
62 organization.
63 7. The total amount of hurricane losses by county and by
64 decade of construction.
65 8. The total amount of hurricane losses by county and by
66 deductible amount.
67 9. The total amount of hurricane losses by county and by
68 wind mitigation features when the information is supplied by the
69 residential property insurer or licensed rating and advisory
70 organization.
71 (b) Separate compilations shall be presented of the data
72 obtained in order to use the public model for calculating rate
73 indications and to update, validate, or calibrate the public
74 model. Additional detail and a description of the operation and
75 maintenance of the public model may be included in the report.
76 (c) The report may not contain any information that
77 identifies a specific insurer or policyholder.
78 (3) This section is subject to the Open Government Sunset
79 Review Act in accordance with s. 119.15, and shall stand
80 repealed on October 2, 2010, unless reviewed and saved from
81 repeal through reenactment by the Legislature.
82 Section 2. This act shall take effect October 1, 2010.