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Catastrophe Reporting for Insurance Companies

In the event of a hurricane or other natural disaster causing catastrophic damage in the state of Florida, it will likely become necessary for the Florida Office of Insurance Regulation (Office) to institute a data call for the purposes of collecting claims and other relevant information from insurance companies. This authority is mandated pursuant to Section 624.307, Florida Statutes.

Insurance companies will be notified when to begin reporting county and statewide information related to the event and how to submit it using the simplified Catastrophe Reporting Form 2016. General company, contact and statewide modeling information along with claims data addressing the following lines of business will be collected: homeowners, dwelling, mobile homeowners, commercial residential, commercial, flood (private and federal), business interruption, and other. Companies upload the requested information via the Data Collection and Analysis Modules (DCAM) at specified time intervals as determined by the Office.

The Office intends to use the aggregated data in summary reports and other materials in order to provide the general public with information concerning the impact of a catastrophic event on Florida’s insurance industry.

The following is a list of related resources for insurance companies:

       

 

Hurricane Claims Data