Fla. Stat. 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.

Source: Section 627.06291 — Excess profits of residential property insurer; return, https://www.­flsenate.­gov/Laws/Statutes/2024/0627.­06291 (accessed Aug. 7, 2025).

627.011
Short title 627.021
Scope of this part 627.031
Purposes of this part 627.041
Definitions 627.062
Rate standards 627.066
Excessive profits for motor vehicle insurance prohibited 627.072
Making and use of rates 627.091
Rate filings 627.092
Workers’ Compensation Administrator 627.093
Application of s 627.096
Workers’ Compensation Rating Bureau 627.101
When filing becomes effective 627.111
Effective date of filing 627.141
Subsequent disapproval of filing 627.151
Basis of approval or disapproval of workers’ compensation or employer’s liability insurance filing 627.162
Requirements for premium installments 627.171
Excess rates 627.191
Adherence to filings 627.192
Workers’ compensation insurance 627.211
Deviations 627.212
Workplace safety program surcharge 627.215
Excessive profits for commercial property and commercial casualty insurance prohibited 627.221
Rating organizations 627.231
Subscribers to rating organizations 627.241
Notice of changes 627.251
Bureau rules not to affect dividends 627.261
Actuarial and technical services 627.281
Appeal from rating organization 627.285
Independent actuarial peer review of workers’ compensation rating organization 627.291
Information to be furnished insureds 627.301
Advisory organizations 627.311
Joint underwriters and joint reinsurers 627.312
Transitional provisions 627.313
Workers’ Compensation Joint Underwriting Plan 627.314
Concerted action by two or more insurers 627.318
Records 627.331
Recording and reporting of loss, expense, and claims experience 627.351
Insurance risk apportionment plans 627.352
Security of data and information technology in Citizens Property Insurance Corporation 627.357
Medical malpractice self-insurance 627.361
False or misleading information 627.371
Hearings 627.381
Penalty for violation 627.0612
Administrative proceedings in rating determinations 627.0613
Consumer advocate 627.0621
Transparency in rate regulation 627.0625
Commercial property and casualty risk management plans 627.0628
Florida Commission on Hurricane Loss Projection Methodology 627.0629
Residential property insurance 627.0645
Annual filings 627.0651
Making and use of rates for motor vehicle insurance 627.0652
Insurance discounts for certain persons completing safety course 627.0653
Insurance discounts for specified motor vehicle equipment 627.0654
Insurance discounts for buildings with fire sprinklers 627.0655
Policyholder loss or expense-related premium discounts 627.0665
Automatic bank withdrawal agreements 627.0915
Rate filings 627.0916
Agricultural horse farms 627.1615
Workers’ compensation applicant discrimination 627.3121
Public records and public meetings exemptions 627.3511
Depopulation of Citizens Property Insurance Corporation 627.3512
Recoupment of residual market deficit assessments 627.3513
Standards for sale of bonds by Citizens Property Insurance Corporation 627.3515
Market assistance plan 627.3517
Consumer choice 627.3518
Citizens Property Insurance Corporation policyholder eligibility clearinghouse program 627.06281
Public hurricane loss projection model 627.06291
Excess profits of residential property insurer 627.06292
Reports of hurricane loss data and associated exposure data 627.06501
Insurance discounts for certain persons completing driver improvement course 627.06535
Electric vehicles 627.35191
Required reports 627.35193
Consumer reporting agency request for claims data from Citizens Property Insurance Corporation

Current through Fall 2025

§ 627.06291. Excess profits of residential property insurer; return's source at flsenate​.gov