Florida Cat Fund Foregoes Private Reinsurance for 2020 Hurricane Season
Reinsurance coverage for the Florida Hurricane Catastrophe Fund was not purchased for this year’s hurricane season after overseers of the fund evaluated the market and found a lack of private capital availability.
In a statement, John Kuczwanski, manager of External Affairs for the Florida State Board of Administration, which administers the FHCF, said the current environment has made it so capital is “less abundant than in prior years,” but says the fund is adequately capitalized for the upcoming season.