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Elisha
12-04-2002, 12:39 PM
Has anyone here ever tried filing a different (as in several points different) profit provision other than the one Florida tells you to use? Just curious. My company is pondering the option.
eponine
12-04-2002, 01:11 PM
FL has not questioned our profit provision in the last few filings but I do not know how it compares to the state recommended provision.
jets fan
12-04-2002, 01:39 PM
What LOB? In GL, they didn't care. And when I did the filing (a few years ago), I didn't even know they try to specify a profit provision (aside - I don't agree that they shoud be able to do that).
Elisha
12-04-2002, 03:55 PM
Lookie here (http://www.doi.state.fl.us/Companies/Memoranda/02-046m.pdf). I have a feeling several companies could be filing vastly different profit provisions due revised the financial market outlook.
jets fan
12-04-2002, 04:06 PM
I'm glad they emphasized the word 'may'. Depending on how you determine the UPP, it depends on a lot of different factors that will vary by company - one does/can not fit all.
Elisha
12-04-2002, 05:44 PM
I'm glad they emphasized the word 'may'. Depending on how you determine the UPP, it depends on a lot of different factors that will vary by company - one does/can not fit all.

Yup, just noticed that myself as well. In the past we've used it in filings and it seemed rather reasonable, but now it doesn't. One of our filing persons seemed to imply that it was the only one they'd let you use.
Mobile Actuary
12-05-2002, 01:06 PM
There's a web site where you can review all the Florida rate filings your heart desires:

http://207.156.46.132/edms/
DW Simpson
01-21-2007, 10:49 PM
http://www.palmbeachpost.com/blogs/content/shared-blogs/palmbeach/insurance/entries/2007/01/19/wanted_more_pay_for_state_actu.html

Wanted: More pay for state actuaries
By Randy Diamond | Friday, January 19, 2007, 11:45 AM
tommie frazier
01-22-2007, 10:10 AM
claude-if I read that right, state employees don't get paid the same as private sector? well, color me shocked!

you should find the (likely publicly available) FL salary scale for actuaries and post a link to your work. or at least send me the PM with the info saying that a fellow in the OIR is making a 5 exam salary.