627.06291 Excess profits of residential property insurer; return.—A residential property insurer shall return all excess profits to policyholders except as otherwise directed by the Office of Insurance Regulation. A residential property insurer shall be deemed to have earned an excess profit if its surplus exceeds its direct probable maximum loss for a 1-in-250-year return period and it has earned a net underwriting gain in Florida in excess of 10 percent of earned premiums above its anticipated underwriting profit over the most recent 10-year period.
History.—s. 26, ch. 2007-1.
Section: Previous 627.0613 627.062 627.0621 627.0625 627.0628 627.06281 627.0629 627.06291 627.06292 627.0645 627.06501 627.0651 627.0652 627.0653 627.06535 NextLast modified: September 23, 2016