69O-170.0144: Public Hurricane Loss Projection Model-Fee Schedule
PURPOSE AND EFFECT: To implement section 18 of Chapter 2008-66, Laws of Florida, to establish a fee schedule for access and use of the Public Hurricane Loss Projection Model by Residential Property Insurers.
SUMMARY: The rule will set the fees to be charged for the access and use of the Public Hurricane Loss Projection Model.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 627.06281 FS.
LAW IMPLEMENTED: 627.06281 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
DATE AND TIME: September 23, 2008, 9:30 a.m.
PLACE: 142 Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Stephen Fredrickson, Assistant General Counsel, Office of Insurance Regulation, E-mail steve.fredrickson@floir.com. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Stephen Fredrickson, Assistant General Counsel, Office of Insurance Regulation, E-mail steve.fredrickson@floir.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69O-170.0144 Public Hurricane Loss Projection Model – Fee Schedule.
(1) This rule establishes the procedure and fee schedule, applicable to residential property insurers, for access and use of the Public Hurricane Loss Projection Model, authorized by Section 627.06281, F.S.
(2) A residential property insurer that elects to access and use the Public Hurricane Loss Projection Model shall file a request, and set up an account with, Florida International University at http://irene.cs.fiu.edu:8080/hldms/. The fees charged for access and use of the Model shall be computed as follows: Fee = $2,400 + 0.03xPOL1 + 0.015xPOL2 +.005xPOL3 where POL1, POL2. POL3 are number of policies (records) in the policy file. POL1 is equal to number of policies from 1 to 200,000. POL2 is equal to number of policies in excess of 200,000 with maximum of 400,000 (i.e. POL2=N-200,000 where N is between 200,000 and 400,000). POL3 is equal to policies in excess of 400,000.
Specific Authority 627.06281 FS, Law Implemented 627.06281 FS. History–New________.