Florida Regulations 69O-170.0144: Public Hurricane Loss Projection Model-Fee Schedule
Current as of: 2024 | Check for updates
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(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 Florida Statutes § 627.06281
(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://hldms.cs.fiu.edu. The fees charged for access and use of the Model, per run, shall be computed as follows: Fee = $2,400 + 0.03 x POL1 + 0.015 x POL2 + .005 x POL3 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.
Rulemaking Authority 627.06281 FS. Law Implemented Florida Statutes § 627.06281. History-New 12-8-08.
(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://hldms.cs.fiu.edu. The fees charged for access and use of the Model, per run, shall be computed as follows: Fee = $2,400 + 0.03 x POL1 + 0.015 x POL2 + .005 x POL3 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.
Rulemaking Authority 627.06281 FS. Law Implemented Florida Statutes § 627.06281. History-New 12-8-08.