MS SB2581

Requires insurance companies writing property insurance in Mississippi to grant the Commissioner of Insurance access to catastrophe models used to justify rates, including underlying data, formulas, and calculations.

Mandates the Commissioner of Insurance keep all underlying data, formulas, and calculations confidential and prohibits public disclosure.

Requires the Commissioner of Insurance to study the accuracy and reliability of catastrophe models and report findings to the Legislature on or before July 1, 2012.

Authorizes the Commissioner to utilize experts and obtain assistance from state agencies including the Mississippi Emergency Management Agency and meteorology departments of state universities.

Takes effect July 1, 2012.