Florida Senate - 2013                          SENATOR AMENDMENT
       Bill No. CS/SB 1770, 1st Eng.
       
       
       
       
       
       
                                Barcode 892824                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: WD/3R          .                                
             04/25/2013 10:06 AM       .                                
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       Senator Simmons moved the following:
       
    1         Senate Amendment (with directory and title amendments)
    2  
    3         Between lines 654 and 655
    4  insert:
    5         (3) ADOPTION AND EFFECT OF STANDARDS AND GUIDELINES.—
    6         (a) The commission shall consider any actuarial methods,
    7  principles, standards, models, or output ranges that have the
    8  potential for improving the accuracy of or reliability of the
    9  hurricane loss projections and wind mitigation discounts used in
   10  residential property insurance rate filings. The commission
   11  shall, from time to time, adopt findings as to the accuracy or
   12  reliability of particular methods, principles, standards,
   13  models, or output ranges.
   14         (b) The commission shall consider any actuarial methods,
   15  principles, standards, or models that have the potential for
   16  improving the accuracy of or reliability of projecting probable
   17  maximum loss levels. The commission shall adopt findings as to
   18  the accuracy or reliability of particular methods, principles,
   19  standards, or models related to probable maximum loss
   20  calculations. The commission shall review models for accuracy of
   21  use when establishing wind mitigation discounts.
   22  
   23  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   24         And the directory clause is amended as follows:
   25         Delete lines 613 - 614
   26  and insert:
   27         Section 5. Paragraph (b) of subsection (2) and paragraphs
   28  (a) and (b) of subsection (3) of section 627.0628, Florida
   29  Statutes, are amended to read:
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32         And the title is amended as follows:
   33         Delete line 23
   34  and insert:
   35         Projection Methodology; requiring the commission to
   36         consider methods for improving the accuracy of wind
   37         mitigation discounts; amending s. 627.0629, F.S.;