Hurricane Catastrophe Fund gets healthier with season approaching, has $10.16B to pay claims
The fund’s claims-paying ability increased by $3.4B from October.
Ahead of what forecasters predict will be a busy hurricane season, the Florida Hurricane Catastrophe Fund, or Cat Fund, is getting in better fiscal shape.
The Cat Fund’s advisory board approved a report showing it has $10.16 billion to pay claims heading into hurricane season, which starts June 1 and lasts until Nov. 30. That includes $6.91 billion in available funds and $3.25 billion in pre-event bonds.