The Florida Senate

627.913  Reports of information by products liability insurers required.--

(1)  Any insurer authorized to write a policy of products liability insurance in the state shall transmit the following information, based on its statewide products liability insurance writings, to the department each year in the annual report of such insurer:

(a)  Premiums written;

(b)  Premiums earned;

(c)  Unearned premiums;

(d)  The dollar amount of claims paid;

(e)  Incurred claims, not including claims incurred but not reported;

(f)  Claims closed without payment, and the amount reserved for such claims;

(g)  Loss reserves for all claims except claims incurred but not reported;

(h)  Reserves for claims incurred but not reported;

(i)  Losses paid as a percentage of the amount reserved for such losses;

(j)  Net investment gain or loss and other income gain or loss allocated to products liability lines according to the allocation formula used in the annual insurance expense exhibit;

(k)  Underwriting income or loss;

(l)  Actual expenses in detail, including, but not limited to, loss adjustment expense; commissions; general expense; and advertising, home office, and defense costs;

(m)  Claims settled after a suit was filed;

(n)  Claims paid based on a judgment; and

(o)  Judgments appealed by the insurer, together with the total results of such appeals.

(2)  The department shall provide a summary of information provided pursuant to subsection (1) in its annual report.

(3)  In the first year that an insurer makes a report pursuant to subsection (1), the insurer shall provide only the information required by paragraphs (a) through (l) of subsection (1) and shall provide such information for the current year and the 3 previous years.

History.--s. 1, ch. 78-224; s. 2, ch. 81-318; ss. 620, 625, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.

Note.--Former s. 624.433.