(B) If required to do so by the director, a modeling organization that prepares catastrophe models used by insurers in rate filings in this State shall submit an initial report to the director or his designee consisting of but not limited to:

1. (1) a statement of its qualification as a modeling organization;
2. (2) an outline of the background and experience of the staff of the modeling organization engaged in the development and preparation of the catastrophe models used by insurers in rate filings; and
3. (3) one or more statements describing and attesting to the validity of the model for use in predicting losses associated with natural hazard catastrophes in this State. A separate statement must be made by an individual possessing expertise appropriate to the hazard being modeled in fields such as meteorology, engineering, building codes, geology, and actuarial science as they apply to natural hazard catastrophes faced by this State.

(G)

1. (1) To recover the costs associated with the review and evaluation of catastrophe models, the director or his designee may impose a filing fee on:

   1. (a) all insurers who use catastrophe or other computer simulated models; and
   2. (b) modelers or modeling organizations that submit a model to the department for its review, evaluation, or approval. This fee must be retained by the department to defray the costs of retaining actuaries and other experts to evaluate such models.
2. (2) The fees collected pursuant to this section must be used only to offset expenses associated with the review of catastrophe models.