News & Updates

FHCF

Office of Insurance Regulation Releases PML Report

Office of Insurance Regulation Releases PML Report

The Florida Office of Insurance Regulation (OIR) has released its Annual Report of Aggregate Net Probable Maximum Losses, Financing Options and Potential Assessments.  The report describes the potential impact of 50-year, 100-year and 250-year events on the Florida Hurricane Catastrophe Fund (FHCF) and Citizens Property Insurance Corporation (Citizens). Events ranging from a 50-year storm to […]

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Limited Apportionment Company Petition Available

Limited Apportionment Company Petition Available

Citizens Property Insurance Corporation has released the form by which insurers may seek limited apportionment company status for 2011.  In cooperation with the Office of Insurance Regulation, Citizens has informed insurers they must submit their requests to the OIR on or before March 31, 2011.  To qualify as a limited apportionment company, an insurer must […]

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FHCF Pursues Changes to Records Retention Requirements

FHCF Pursues Changes to Records Retention Requirements

The Florida Hurricane Catastrophe Fund is scheduled to hold a hearing today on proposed rules that would incorporate changes to its data reporting and retention requirements.  The various forms insurers must use to report losses to the FHCF and the information they must maintain for audits are set forth in, or incorporated into, administrative rules.  […]

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Florida Hurricane Catastrophe Fund to Revise Reporting Rules

Florida Hurricane Catastrophe Fund to Revise Reporting Rules

The Florida Hurricane Catastrophe Fund on December 17, 2010 proposed amendments to administrative rules adopting its exposure and loss reporting forms.  The proposed revisons would make a series of changes to the FHCF data call, to which insurers respond each year providing the characteristics of their in-force portfolios.  In addition, the proposed rules would amend […]

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