The actuaries at our firm have been in Florida for nearly 20 years. We are intimately familiar with the intricacies of the marketplace. We have been to Tallahassee to witness rate filing testimony and discuss insurance issues with many members of the regulatory community over that time.
In Florida, we know the players, and we know how business is done. We can put this expertise to work for you.
On July 1, 2012, Florida House Bill 1101 was signed into law by Governor Rick Scott. This bill allows for formation of pure captives and special purpose captives. Previously only industrial insured captives were allowed. As part of the initial licensing requirement for a Florida captive, you must file an actuarial projection of premiums and losses for the newly formed captive. We have expertise in this type of actuarial study.
Florida also has specific actuarial requirement regarding security deposits for self insurers. Beginning in 2010, the Florida Administrative Code added Rule 69L-5 which requires some self insurers to post an actuarially determined security deposit equal to the discounted actuarial reserve calculated under certain criteria. We have calculated the security deposit requirement and secured approval for this calculation for several of our clients. We stand ready to help you fulfill this requirement.
Our tagline is “Complex Calculations Made Easy to Understand”. We know that it is not enough to provide accurate, sound results. We also make them understandable. Understandable results allow business executives to easily share our conclusions with other key stakeholders.