| 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.; saving |
| 4 | from scheduled repeal under the Open Government Sunset |
| 5 | Review Act an exemption from public records requirements |
| 6 | for specified reports of hurricane loss data and |
| 7 | associated exposure data that are specific to a particular |
| 8 | insurance company; requiring the Florida International |
| 9 | University center that develops, maintains, and updates |
| 10 | the public model for hurricane loss projections to publish |
| 11 | an annual report summarizing loss data and associated |
| 12 | exposure data collected from residential property insurers |
| 13 | and licensed rating and advisory organizations; providing |
| 14 | for submission of the report to the Governor and the |
| 15 | Legislature; providing an effective date. |
| 16 |
|
| 17 | Be It Enacted by the Legislature of the State of Florida: |
| 18 |
|
| 19 | Section 1. Section 627.06292, Florida Statutes, is amended |
| 20 | to read: |
| 21 | 627.06292 Reports of hurricane loss data and associated |
| 22 | exposure data; public records exemption.- |
| 23 | (1) Reports of hurricane loss data and associated exposure |
| 24 | data that are specific to a particular insurance company, as |
| 25 | reported by an insurer or a licensed rating organization to the |
| 26 | office or to a center at a state university pursuant to s. |
| 27 | 627.06281, are exempt from s. 119.07(1) and s. 24(a), Art. I of |
| 28 | the State Constitution. |
| 29 | (2) For the purposes of this section, "loss data and |
| 30 | associated exposure data" means the type, age, wind mitigation |
| 31 | features, and location of each property insured; the amount and |
| 32 | type of coverage written on each of those properties; the |
| 33 | amount, date, and type of damage paid for by the insurer on each |
| 34 | property; and the amount of any reserves held by an insurer for |
| 35 | future payments or expenses on damages associated with the date |
| 36 | or dates of occurrence of hurricanes. |
| 37 | (3) On October 1, 2011, and on each October 1 thereafter, |
| 38 | the Florida International University center that develops, |
| 39 | maintains, and updates the public model for hurricane loss |
| 40 | projections shall publish a report summarizing loss data and |
| 41 | associated exposure data collected from residential property |
| 42 | insurers and licensed rating and advisory organizations. The |
| 43 | Florida International University center shall submit the report |
| 44 | annually, on or before October 1, to the Governor, the President |
| 45 | of the Senate, and the Speaker of the House of Representatives. |
| 46 | (a) Such report must include a summary of the data |
| 47 | supplied by residential property insurers and licensed rating |
| 48 | and advisory organizations from September 1 of the prior year to |
| 49 | August 31 of the current year, and must include the following |
| 50 | information: |
| 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 of the data obtained shall be |
| 72 | presented 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. |