Florida Citizens ‘Going Naked’ on Re Below Cat Fund Layer; Could Mean Assessment
Florida hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance, Citizens Property Insurance Corporation
News & Updates
Florida Hurricane Catastrophe Fund
Reinsurance picture improves for Florida
reinsurance, Florida homeowners, property insurers, Florida hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund
Hurricane Catastrophe Fund gets healthier with season approaching, has $10.16B to pay claims
Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance, hurricane season
Storm Losses Increase FHCF Reliance on Bonding
The Florida Hurricane Catastrophe Fund (FHCF) projects that it would be able to meet its maximum single-season reimbursement obligation of $17 billion if the need arises. However, hurricane losses in recent years have reduced the FHCF’s available cash, increasing its anticipated reliance on post-event bonding. For the 2023-24 FHCF contract year, the insurance industry retains […]
Florida’s homeowners insurance market faces strains amid hurricane season challenges: Moody’s
Hurricane Idalia, Florida homeowners, property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation
Property Insurance: Florida’s Big Elephant in the Room
Florida Insurance Commissioner, Florida Office of Insurance Regulation, property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation
Hurricanes Take Toll on FHCF Capacity
The Florida Hurricane Catastrophe Fund (FHCF) recently projected a potential shortfall in its claims-paying capacity for the first time in many years. By statute, the FHCF provides up to $17 billion in reimbursement capacity to residential property insurers each year. However, that obligation is limited to the amount the FHCF actually can pay, if less […]
DeSantis wants insurance-focused special session
Hurricane Ian, Florida special session, property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund
The big reason Florida insurance companies are failing isn’t just hurricane risk – it’s fraud and lawsuits
Citizens Property Insurance Corporation, Florida Hurricane Catastrophe Fund, Insurance Regulation News, assignment of benefits, Demotech, Hurricane Ian
Special Session Proposals Address Property Market Concerns
The Florida House of Representatives and Senate have released their proposals for next week’s special session on property insurance reform. The special session follows last month’s call from Governor Ron DeSantis for a special session dealing with the crisis in Florida’s residential property insurance market. Reinsurance Protection Although their proposals are subject to change when […]