Florida Hurricane Catastrophe Fund Performing Adequately, Its Advisor Says
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, claims-paying capacity
Radey is an AV-rated firm consisting of lawyers who practice before state agencies and in all state and federal courts.
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, claims-paying capacity
The Florida Hurricane Catastrophe Fund (FHCF) continues to anticipate it will be able to meet its $17 billion in contracted single-season capacity if the need arises. The FHCF projects its year-end 2019 fund balance will be $12.4 billion. Adding $1.7 billion in pre-event notes and an expected $1.0 billion in risk transfer (reinsurance), the FHCF projects […]
The State Board of Administration has announced the estimated borrowing capacity, estimated claims-paying capacity, and projected balance of the Florida Hurricane Catastrophe Fund as of December 31, 2017. These estimates relate to the FHCF’s expected ability to pay reimbursements to insurers from losses occurring in the 2017-2018 Reimbursement Contract Year. The FHCF’s total estimated claims-paying capacity […]
As with other aspects of the Florida residential property insurance market, the Florida Hurricane Catastrophe Fund (FHCF) continues to benefit from the recent run of hurricane-free years. Not only does the FHCF anticipate that it can fully meet is statutory limit of $17 billion in single-season capacity, most of the the FHCF’s current single-season capacity […]
The Florida Hurricane Catastrophe Fund (FHCF) Advisory Council has suggested that the fund will have a potential shortfall of $1.75 billion if it is required to attempt to reach its maximum payout within 12 months of an event. The Advisory Council encouraged FHCF Chief Operating Officer Jack Nicholson to seek pre-event financing this year to close this potential gap. Nicholson sought […]