Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. PCS (610218) for CS for SB 258
       
       
       
       
       
       
                                Ì3570742Î357074                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/18/2015           .                                
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       The Committee on Appropriations (Hays) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 52 - 57
    4  and insert:
    5  hurricane loss factors and probable maximum loss levels for use
    6  in a rate filing under s. 627.062. An insurer may shall employ a
    7  model in a rate filing until 120 days after the expiration of
    8  the commission’s acceptance of that model and may not modify or
    9  adjust models found by the commission to be accurate or reliable
   10  in determining probable maximum loss levels pursuant to
   11  paragraph (b) with respect to a rate filing under s. 627.062
   12  made more than 60 days after the commission has made such
   13  findings.
   14  
   15  ================= T I T L E  A M E N D M E N T ================
   16  And the title is amended as follows:
   17         Delete lines 3 - 8
   18  and insert:
   19         amending s. 627.0628, F.S.; requiring an insurer to
   20         employ in certain rate filings actuarial methods,
   21         principles, standards, models, or output ranges found
   22         by the Florida Commission on Hurricane Loss Projection
   23         Methodology to be accurate or reliable in determining
   24         probable maximum loss levels; authorizing an insurer
   25         to employ a model in a rate filing until 120 days
   26         after the expiration of the commission’s acceptance of
   27         that model; deleting a provision that required
   28         insurers to employ a specified model in a rate filing
   29         made more than 60 days after the commission found the
   30         model to be accurate or reliable; amending s.
   31         627.0651,