OIR Request for Reinsurance Information 2008-2009

We have been advised that a significant number of Florida domestic and foreign homeowners insurers have received a Request for Reinsurance Information 2008-2009 from the Florida Office of Insurance Regulation (“OIR”).

It is not unusual for the OIR to request information and documentation applicable to property risks written within the state of Florida and the ability of insurers to meet their policy obligations in the event of one or more catastrophic events during the hurricane season. The OIR requests this information in the form of a target examination.

Pursuant to the standard notice issued by the OIR in connection with this target examination, the first part of the reinsurance data call must be completed and submitted by May 16, 2008.

The second portion of the data call is due to the OIR within 15 days of finalization of the insurer’s catastrophe reinsurance program.  OIR has advised that the information will be due even if the reinsurance contracts are not actually signed. The information and forms related to the second portion of the data call have been posted, or will be posted shortly, on the OIR website.

Every applicable insurer should review the Request for Reinsurance Information which may have been delivered to it by the OIR with regard to the specific information and documentation requested and any deadlines which may apply to that insurer’s target examination and data call.

Should you have any questions with regard to this matter, please do not hesitate to contact this office.

 

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