Public Hurricane Loss Projection Model-Fee Schedule  

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    DEPARTMENT OF FINANCIAL SERVICES
    OIR – Insurance Regulation

    RULE NO: RULE TITLE
    69O-170.0144: Public Hurricane Loss Projection Model-Fee Schedule

    Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 34, No. 35, August 29, 2008 issue of the Florida Administrative Weekly.

    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, per run, 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 (records) from 1 to 200,000. POL2 is equal to number of policies (records) in excess of 200,000 with maximum of 400,000. POL3 is equal to number of policies (records) in excess of 400,000.

    Specific Authority 627.06281 FS, Law Implemented 627.06281 FS. History–New________.