Bill Text: FL S1664 | 2010 | Regular Session | Introduced

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Bill Title: OGSR/Hurricane Loss/Associated Exposure Data [CPSC]

Spectrum: Unknown

Status: (N/A - Dead) 2010-04-28 - Placed on Special Order Calendar; Read 2nd time -SJ 00983; Substituted HB 7121 -SJ 00983; Laid on Table, companion bill(s) passed, see HB 7121 (Ch. 2010-137) -SJ 00983 [S1664 Detail]

Download: Florida-2010-S1664-Introduced.html

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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.