As seen at the Tampa Tribune:
The speaker of Florida’s House is demanding that companies across the country hand over computer models used to justify huge homeowners insurance rate increases in many coastal areas.[...]
Rubio’s letter demanded not only the software for the models but also “the assumptions and factors used in developing the models, including any proprietary information.”
Rubio took the action after a Tampa Tribune investigation revealed that even some scientists who helped develop one company’s new model have doubts about major changes that were made to it last year.
Lovely. Florida appears to want to restrict the use of scoring and cat models. That’s certainly creating an environment where insurers want to do business.
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1 Mike The Actuary’s Musings » Cat Modelers Will Comply With Florida’s Request to Peek Inside the Black Box // 11 Jan 2007 at 11:06 pm
[...] Yesterday, I mentioned that the Florida legislature was doing some saber-rattling in the general direction of the cat modelers. It seems, according to this story that the modelers will happily comply. Four catastrophe modeling firms and the Florida Office of Insurance Regulation have agreed to release their hurricane loss models for review by the Florida House of Representatives. [...]