Task Force on Long-Term Solutions
for
Florida’s Hurricane Insurance Market
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FINAL REPORT [rev. 3/6/2006]
Appendices to Final Report
Appendix One: The Creation, Charge and
Responsibilities of the Task Force, Meeting Agendas and Minutes
Excerpt from
Senate Bill 1486
Agenda for August 24,
2005|
Minutes from August 24,
2005
Agenda for September 28,
2005
Minutes from September 28,
2005
Agenda for November 14,
2005
Minutes from November 14,
2005
Agenda for November
30, 2005
Minutes from November 30,
2005
Agenda for December 14,
2005
Minutes from December 14,
2005
Agenda for
January 18 and 29, 2006
Minutes from January
18 and 29, 2006
Agenda for January
30 and 31, 2006
Minutes from
January 30 and 31, 2006
Agenda for February
27 and 28, 2006
Agenda for March 6, 2006
Appendix Two:
Mitigation and Building Codes
Mitigation and Building Code Issues and Emergency Management – Thaddeus L.
Cohen, Secretary, Florida Department of Community Affairs
Wind Resistant Homes, Old and New and The State of the Florida
Housing Market - Dr. Robert C. Stroh, Director of the Shimberg Center for
Affordable Housing
Introduction to Disaster Resistant Construction - Bill York, President, W.H.
York Consulting
The Cost Effectiveness of Disaster Mitigation – Brent Woodworth, Chair of the
National Institute of Building Sciences Multihazard Mitigation Council
Garrett Walton,
Co-Exec. Dir., Rebuild NW Florida; Miles Anderson, FL Div. of Emergency Man.,
Dir., Northwest Florida Recovery
Assessing the Performance of Modern Building Codes & Standards in
Reducing Hurricane Damage - Timothy Reinhold, VP/Engineering, Institute for
Business & Home Safety
Third Party
Analysis of Manufactured Home Retrofit Tie Downs – Assessment and Analysis –
State of Florida Residential Construction Mitigation Retrofit Program
Appendix Three:
National Catastrophe Plan
Natural
Catastrophe Risk: Creating a Comprehensive National Plan (Draft by National
Association of Insurance Commissioners)
Resolution Regarding Natural Disaster Insurance Issues – National Conference of
Insurance Legislators
“Sharing and Reducing the
Financial Risks of Future Mega-Catastrophes” - Robert E. Litan, VP/Research &
Policy, Kauffman Foundation; Sr. Fellow, Economic Studies, The Brookings
Institution
Preparing for and
Protecting America from Catastrophe - James Lee Witt, National Co-Chair
Protecting America.org
Has the Time Come for Comprehensive Natural disaster
Insurance? Howard Kunreuther, Cecilia Yen Koo Professor of Decision Sciences &
Public Policy, Co-Director Risk Management and Decisions Processes Center
Appendix Four:
Population Growth, Insurance and Capacity Demands
Florida Population and New Capital Estimates Ray
Spudeck, Senior Research Economist, Office of Insurance Regulation
Table 1: Florida Population Growth Estimates by
County
Table 2: Estimated Policy Count Growth
Table 3: Estimated Minimum New Capital Needed for
Florida residential insurance
Appendix Five:
The Private Insurance Market
The Private
Insurance Market – Ray Spudeck, Senior Research Economist, Office of Insurance
Regulation
Overview of the Florida Hurricane Risk Market– Office of Insurance Regulation
Overview of State
Rating Laws - Eric Nordman, CPCU, CIE, Director of Research
Overview of State
Rating Laws -State Rating Systems - Eric Nordman, CPCU, CIE, Director of
Research, NAIC
Overview of State Rating Laws -State Filing Methods - Eric Nordman, CPCU, CIE,
Director of Research, NAIC
Solvency and Capacity Overview - Sharon Binnun, Deputy Insurance Commissioner,
Office of Insurance Regulation
Consumer Statement on Rate Review Process - Bob Hunter, Director of Insurance,
Consumer Federation of America
Industry
Perspective of Florida Hurricane Market - Steve Goldberg, Chief Actuary,
Benfield Group
Perspective and
Recommendations by Florida Alliance on Hurricane Insurance
- Sam Miller, VP, Florida Insurance Council & Scott
Johnson, Ex. VP, Florida Association of Insurance Agents
Hurricanes Katrina &
Rita: Impacts on the P/C Insurance & Reinsurance Industries
- Robert P. Hartwig, Ph.D., CPCU, Senior VP & Chief
Economist, Insurance Information Institute
Academy of Florida Trial
Lawyers Perspective and Recommendations – Steve Marino, Esq.
Comparison
of Admitted and Surplus Lines Property Insurance Market and Climate Survey
Gary Pullen, Executive Director, Florida Surplus Lines Service Office
Perspective
and Recommendations by the Florida Association of Insurance Agents – Scott
Johnson, Executive Vice President
Insurance & Coastal Risk in Florida: Lessons on Availability & Affordability -
Robert P. Hartwig, Ph.D., CPCU, Senior VP & Chief Economist, Insurance
Information Institute
Appendix Six:
The Florida Hurricane Catastrophe Fund
Florida Hurricane
Catastrophe Fund Presentation - Jack Nicholson, Senior Florida Hurricane
Catastrophe Fund Officer
Documentation on future capacity needs & adjustments to the Fla. Hurricane
Catastrophe Fund - Letter to Trustees re: Limit Adjustment - Jack Nicholson,
Senior FHCF Officer
Appendix Seven:
Citizens Property Insurance Corporation
Citizens Property Insurance Corporation Presentation - Bob Ricker, President
and Executive Director, Citizens Property Insurance Corporation
Data Responses by Citizens Property Insurance Corporation, Susanne Murphy,
General Counsel
Citizens Loss
Mitigation Credits Description
Citizens Loss
Mitigation Credits Summary
Citizens
Depopulation History
Citizens Memo on Combining Citizens’ Accounts
Impact on Citizens if
Coverage Reductions Occur with Hard Caps ($500,000)
Impact on Citizens if
Coverage Reductions Occur with Hard Caps ($1,000,000)
Appendix
Eight: Testimony by
Florida Insurance Council on Senate Bill 1486
Appendix Nine:
Hurricane Resistance Grading(s) for
Residential Property
__________________________________________________________________
A. Task Force Membership List
Membership List
B. Task Force Tentative Meeting Schedule
Tentative Meeting Schedule (Rev. February 27, 2006)
C. Packet for March 6, 2006 meeting
Agenda for March 6, 2006
D. Packet for February 27 & 28, 2006 meeting
Agenda for February 27 & 28, 2006
Draft Report (rev. 2/15/06)
E. Packet for January 30 & 31, 2006 meeting
Agenda for January 30 & 31, 2006
Draft Report (1/26/06)
F. Packet for January 18 & 19, 2006 meeting
Agenda for January 18 & 19, 2006 (Rev. 1-13-06)
Minutes from 12/14/05 Meeting
“Sharing and Reducing the Financial Risks of Future Mega-Catastrophes”
Robert E. Litan, VP/Research & Policy,Kauffman Foundation; Sr. Fellow, Economic Studies, The Brookings Institution
Documentation on future capacity needs & adjustments to the Fla. Hurricane Catastrophe Fund - Letter to Trustees re: Limit Adjustment
Jack Nicholson, Senior FHCF Officer
Documentation on future capacity needs & adjustments to the Fla. Hurricane Catastrophe Fund - Advisory Council Memo
Jack Nicholson, Senior FHCF Officer
Perspective and Recommendations by Florida Alliance on Hurricane Insurance
Sam Miller, VP, Florida Insurance Council & Scott Johnson, Ex. VP, Florida Association of Insurance Agents
Status of SB 1486 implementation
Dave Foy, Chief of Staff, Office of Insurance Regulation
Excerpt from NAIC “2003 Dwelling Fire, Homeowners Owner-Occupied, & Homeowners Tenant & Condominium/Cooperative Unit Owner's Insurance Report” & Supplemental Premium Data
Ray Spudeck Senior Research Economist, Office of Insurance Regulation
Citizens Property Insurance, Inc. Data Follow-up: Comparison of Homeowners Premiums
Citizens Property Insurance, Inc. Data Follow-up: Loss Mitigation Credits
Citizens Property Insurance, Inc. Data Follow-up: Mitigation Credit Summary
Citizens Property Insurance, Inc. Data Follow-up: Depopulation History
Citizens Property Insurance, Inc. Data Follow-up: Memo on Combining Citizens’ Accounts
Citizens Property Insurance, Inc. Data Follow-up: Impact on Citizens if Coverage Reductions Occur with Hard Caps ($500,000)
Citizens Property Insurance, Inc. Data Follow-up: Impact on Citizens if Coverage Reductions Occur with Hard Caps ($1,000,000)
Collins Center for Public Policy Issue Paper on Consumer Choice
Collins Center for Public Policy Issue Paper on the National Flood Insurance Program
Wind Resistant Homes, Old and New and The State of the Florida Housing Market
Dr. Robert C. Stroh, Director of the Shimberg Center for Affordable Housing
The Cost Effectiveness of Disaster Mitigation
Brent Woodworth, Chair of the National Institute of Building Sciences Multihazard Mitigation Council
Initial Draft Recommendations for Task Force Discussion
Checklist of Coverage by the Standard Personal Lines Advisory Committee
Checklist by OIR for SB 1486 implementation
Florida Insurance Council SB 1486 Considerations
Future Capacity Needs
Ray Spudeck Senior Research Economist, Office of Insurance Regulation
Preparing for and Protecting America from Catastrophe
James Lee Witt, National Co-Chair Protecting America.org
G. Packet for December 14, 2005 meeting
Agenda for December 14, 2005
Minutes from 11/30/05 Task Force Meeting
Mitigation and Building Code Issues and Emergency Management
Thaddeus L. Cohen, Secretary, Florida Department of Community Affairs
Data Responses by Citizens Property Insurance Corporation,
Susanne Murphy, General Counsel
Task Force Discussion on Task Force charge related to Citizens Property Insurance Corporation & other issues
Facilitated by Collins Center for Public Policy
Comparison of Admitted and Surplus Lines Property Insurance Market and Climate Survey
Gary Pullen, Executive Director, Florida Surplus Lines Service Office
Mitigation and House Hardening
Garrett Walton, Co-Exec. Dir., Rebuild NW Florida; Miles Anderson, FL Div. of Emergency Man., Dir., W. FL Recovery
Assessing the Performance of Modern Building Codes & Standards in Reducing Hurricane Damage
Timothy Reinhold, VP/Engineering, Institute for Business & Home Safety
H. Packet for November 30, 2005 meeting
Agenda for November 30, 2005(Rev. 11-29-05)
Draft Minutes from November 14, 2005 Meeting
National Catastrophe Insurance Plan: A Framework for Discussion
Minutes from National Catastrophe Insurance Summit - Nov. 15 & 16, 2005
Florida Association of Insurance Agents Perspective and Recommendations:
Analysis of Windstorm Coverage Fund by Jerome F. Vogel, ACAS, MAAA
Some Benefits of the WCF Approach
WCF and HRA Comparison
Exposure Reduction and other Suggestions
Analysis of Windstorm Coverage Fund #1
Analysis of Windstorm Coverage Fund #2
Analysis of Windstorm Coverage Fund #3
Collins Center Decision Paper #1
Collins Center Decision Paper #2
Collins Center Decision Paper #3
Collins Center Decision Paper #4
Collins Center Decision Paper #5
Collins Center Decision Paper #6
Collins Center Decision Paper #7
Citizens Property Insurance, Inc. Data Follow-up: Loss Mitigation Credits
Academy of Florida Trial Lawyers Perspective and Recommendations
I. Packet for November 14, 2005 Meeting
Agenda for November 14, 2005
Draft Minutes from September 28, 2005 Meeting
Overview of State Rating Laws -Rate Regulation
Eric Nordman, Director of Research, NAIC
Overview of State Rating Laws -State Rating Systems
Eric Nordman, Director of Research, NAIC
Overview of State Rating Laws -State Filing Methods
Eric Nordman, Director of Research, NAIC
Florida Rate Review Process - Rate Indication Form
Ken Ritizenthaler, Actuary, Office of Insurance Regulation
Florida Rate Review Process - Support for Rates by Territory
Ken Ritizenthaler, Actuary, Office of Insurance Regulation
Florida Rate Review Process - Other Rating Factor Changes
Ken Ritizenthaler, Actuary, Office of Insurance Regulation
Consumer Perspective on Rate Review Processes
Bob Hunter, Director of Insurance, Consumer Federation of America
Solvency and Capacity Overview
Sharon Binnun, Deputy Insurance Commissioner, Office of Insurance Regulation
Introduction to Disaster Resistant Construction
Bill York, President, W.H. York Consulting
J. Packet for September 28, 2005 Meeting
Agenda for September 28, 2005 (Rev. September 16, 2005)
Draft Minutes from August 24, 2005 Meeting
Link to Final Report: Insurance Study of Sinkholes
Link to Catastrophe Risk: U.S. and European Approaches to Insure Natural Catastrophe and Terrorism Risks
(GAO 05-199)
NCOIL Resolution Regarding Natural Disaster Insurance Issues
NAIC White Paper on Catastrophe Risk Management for U.S. Economy
NAIC Catastrophe Insurance Working Group Disaster Reserve Plan Talking Points
Citizens Property Insurance Corporation Presentation
Bob Ricker, President and Executive Director, Citizens Property Insurance Corporation
Florida Hurricane Catastrophe Fund Presentation
Jack Nicholson, Senior Florida Hurricane Catastrophe Fund Officer
Catastrophe Risk: Creating a Comprehensive National Plan
Ray Spudeck, Senior Research Economist, Florida Office of Insurance Regulation
Hurricanes Katrina & Rita: Impacts on the P/C Insurance & Reinsurance Industries
Robert P. Hartwig, Ph.D., CPCU, Senior VP & Chief Economist, Insurance Information Institute
K. Packet for August 24, 2005 Meeting
Agenda for August 24, 2005
Letter from CFO Tom Gallagher
Excerpt from SB 1486 with charge of Task Force
Summary of SB 1486
Link to full text of SB 1486
Link to the Joint Select Committee on Hurricane Insurance
Final Report and Recommendations (February 25, 2005)
Market Overview
The Insurance Contract:
Richard C. Koon, Sr. Mgmt. Analyst Supv., Florida Office of Insurance Regulation
Industry Perspective of Florida Hurricane Market:
Steve Goldberg, Chief Actuary, Benfield Group
L. News Articles
News Articles of Interest 10-6-05
News Articles of Interest 10-20-05
News Articles of Interest 11-03-05
News Articles of Interest 11-17-05
News Articles of Interest 12-01-05
News Articles of Interest 12-15-05
News Articles of Interest 12-29-05
News Articles of Interest 01-12-06
News Articles of Interest 01-26-06
News Articles of Interest 02-09-06
News Articles of Interest 022406
