FPCA Homeowners Division: March 20 Meeting Follow-Up Information

Mar 23, 2009

 

Pinnacle Actuarial Study:  “Impact Analysis of Proposed Florida Statewide Hurricane Pool”

As discussed during the March 20, 2009 FPCA Homeowners’ Division conference call, Pinnacle Actuarial Resources, Inc. has released the attached study and related appendices and exhibits entitled “Impact Analysis of Proposed Florida Statewide Hurricane Pool.”

The study includes information on the following:

  • Impact of a Statewide Hurricane Pool
  • Estimated Impacts by Location
  • Estimated Impact of Mandatory Two Percent Hurricane Deductible
  • Probable Maximum Losses for a Statewide Hurricane Pool vs. Citizens Property Insurance Corporation
  • Impact of Purchasing Reinsurance
  • Scenario Testing

 

Florida Division of Consumer Services Rule Hearings

The Florida Department of Financial Services, Division of Consumer Services (“DCS”) has issued Notices of Proposed Rule regarding the Rules listed below.  If requested within 21 days of the date of these Notices (March 20), hearings will be held at the date, time and place shown below (if not requested, a hearing will not be held):

 

To be considered for adoption:

  • 69J-166.031:  Mediation of Property Insurance Claims

Under the proposed amendment, mediation of claims for the 2004 and 2005 hurricane seasons, which previously have been governed by Rule 69J-2.003, F.A.C., would now be processed under Rule 69J-166.031, F.A.C.  Under the amended Rule, insurers would provide notice of the right to mediate within five days of the first-party claim.  To view the Notice for this Rule, click here.

Hearing details for Rule 69J-166.031:

Date:  Monday, April 6, 2009
Time:  3:00 p.m.
Place:  Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee

 

To be considered for adoption:

  • 69J-166.002:  Mediation of Commercial Residential Property Insurance Claims

This proposed Rule would establish a mediation program for resolving disputed commercial residential insurance claims to be administered by the DCS.  This proposed Rule would replace Rule 69J-2.002, F.A.C., which is no longer needed since the number of disputed commercial residential insurance claims being mediated through the outside vendor has significantly diminished.  To view the Notice for this Rule, click here.

Hearing details for Rule 69J-166.002:

Date:  Monday, April 6, 2009
Time:  2:00 p.m.
Place:  Room 142 of the Larson Building, 200 East Gaines Street, Tallahassee

  • Please Note:  No Notice has been posted yet to advise of any Rule hearing to consider the repeal of 69J-2.002

 

To be considered for repeal:

  • 69J-2.003:  Mediation Procedures for Resolution of Disputed Personal Lines Insurance Claims Arising from the 2004 and 2005 Hurricanes and Tropical Storms

Mediation of claims for the 2004 and 2005 hurricane seasons has been governed by Rule 69J-2.003, F.A.C.  Currently, there are few claims left to be mediated and therefore, the need for a special process to mediate those claims is no longer needed.  Proposed Rule 69J-166.031, which establishes a mediation program administered by the DCS.  To view the Notice for this Rule, click here.

Hearing details for Rule 69J-2.003 (to be held in conjunction with 69J-166.031):

Date:  Monday, April 6, 2009
Time:  3:00 p.m.
Place:  Room 116 of the Larson Building, 200 East Gaines Street, Tallahassee

 

SCHIP Web Site Address

FPCA Members have requested the specific Web address at which Section 111 of the Medicare, Medicaid, and SCHIP Extension Act of 2007 (“SCHIP”) updates are available:  To view the Centers for Medicare & Medicaid Services (“CMS”) Web site, click http://www.cms.hhs.gov/MandatoryInsRep/01_Overview.asp#TopOfPage.

 

Should you have any questions or comments, please contact Katie Webb at kwebb@cftlaw.com.