The Florida Office of Insurance Regulation published a notice to the insurance industry providing them with the 2024 Catastrophe Reporting Form. All insurers must fill out the form if a hurricane or other natural disaster causes catastrophic damage in Florida. The OIR is preparing for the Atlantic Hurricane Season, which started on June 1, 2024.
The form collects claims data and other related information. The claims data is broken down by line of business. Insurers authorized to write the following lines in Florida are required to submit a filing: fire; allied lines; farmowners multi-peril; homeowners multi-peril; commercial multi-peril; private flood; ocean marine; inland marine; PPA physical damage; commercial auto physical damage; aircraft; glass; boiler and machinery; industrial fire; industrial extended coverage; mobile home multi-peril; mobile home physical damage; multi-peril crop; surplus lines federally authorized; and surplus lines property and casualty.
Insurers with no policies in force for those lines or with no claims for the related hurricane or catastrophe are still required to make a "No Data" filing. The OIR may use the aggregated data in summary reports to inform the general public about a catastrophic event and its impact on the insurance market.
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