FHCF Seeks Authority to Explore Risk Transfer Options
The Florida Hurricane Catastrophe Fund is seeking authorization from the Trustees of the State Board of Administration to explore, negotiate and enter into a combination of risk transfer products and/or pre-event notes totaling up to $2.2 billion. The Trustees of the State Board of Administration are the Governor, Chief Financial Officer and Attorney General. The issue is expected to be presented to the Trustees at their March 24 Cabinet meeting.
The FHCF would like to consider risk transfer products attaching upon exhaustion of the FHCF’s fund balance, although the requested authority would allow the FHCF to consider options attaching at lower levels if market conditions are favorable.