22015913, 19-8.028 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 22015913

Notice of Proposed Rule

Department:

STATE BOARD OF ADMINISTRATION

Chapter:

ADMINISTRATION OF THE FLORIDA HURRICANE CATASTROPHE FUND

Overview

RULE:

19-8.028

Reimbursement Premium Formula

PURPOSE:

The State Board of Administration, Florida Hurricane Catastrophe Fund, seeks to amend Rule 19-8.028, F.A.C., Reimbursement Premium Formula, to implement changes to Section 215.555, Florida Statutes, as enacted by the Legislature in 2019.

SUMMARY:

In accordance with Section 215.555(5), Florida Statutes, proposed amended Rule 19-8.028, F.A.C., Reimbursement Premium Formula, adopts a revised 2019-2020 reimbursement premium formula for the Florida Hurricane Catastrophe Fund (“Florida Hurricane Catastrophe Fund 2019 Ratemaking Formula Report Revised July 25, 2019”), to reflect an increase in loss adjustment expense allowance from 5% to 10% of reimbursed losses, beginning with the 2019-2020 Reimbursement Contract.

RULEMAKING AUTHORITY:

215.555(3), F.S.

LAW:

215.555(2), (3), (4), (5), (6), (7), F.S.

PRINT PUBLISH DATE:

7/26/2019 Vol. 45/145

COMMENTS:

From 7/26/2019 To 8/16/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.