Florida § 627.0621 - Transparency in rate regulation.
Full text of Florida Florida Statutes § 627.0621 — Transparency in rate regulation., with citation guidance and answers to common questions.
§ 627.0621. Transparency in rate regulation.
(1) DEFINITIONS. — As used in this section, the term: (a) “Rate filing” means any original or amended rate residential property insurance filing. (b) “Recommendation” means any proposed, preliminary, or final recommendation from an office actuary reviewing a rate filing with respect to the issue of approval or disapproval of the rate filing or with respect to rate indications that the office would consider acceptable. (2) WEBSITE FOR PUBLIC ACCESS TO RATE FILING INFORMATION. — (a) With respect to any residential property rate filing, the office shall provide the following information on a publicly accessible Internet website: 1. The overall rate change requested by the insurer. 2. The rate change approved by the office along with all of the actuary’s assumptions and recommendations forming the basis of the office’s decision. 3. Certification by the office’s actuary that, based on the actuary’s knowledge, his or her recommendations are consistent with accepted actuarial principles. (b) For any rate filing, whether or not the filing is subject to a public hearing, the office shall provide on its website a means for any policyholder who may be affected by a proposed rate change to send an e-mail regarding the proposed rate change. Such e-mail must be accessible to the actuary assigned to review the rate filing.
Frequently Asked Questions About Florida § 627.0621
What does Florida Statutes § 627.0621 cover?
Section 627.0621 ("Transparency in rate regulation.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 627.0621?
A common citation format is "Florida Statutes § 627.0621" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 627.0621 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.