Florida Office of Insurance Regulation re Targeted Examinations of Insurers Writing Property Risks 4/23/06

Jan 10, 2007

We have been advised that the Florida Office of Insurance Regulation (OIR) intends to conduct targeted examinations of insurers writing property risks in Florida pursuant to section 624.318, Florida Statutes, in order to determine that the insurers will be able to meet their policy obligations in the event of one or more catastrophic events during the 2006 hurricane season.

This action by OIR has been precipitated by the contraction of the property reinsurance market available in Florida as a result of the effects of the 2004 and 2005 hurricane seasons. This examination will not relieve any insurer of its obligation to submit reinsurance and modeling information as required by any Consent Order or other directive of OIR.

The questions and information that are subject of the target examinations are here in an Excel format.

If you have any questions, please do not hesitate to contact this office.