DeSantis wants insurance-focused special session
property insurance, Florida special session, Hurricane Ian, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News
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property insurance, Florida special session, Hurricane Ian, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News
Citizens Property Insurance Corporation, Florida Hurricane Catastrophe Fund, Insurance Regulation News, assignment of benefits, Demotech, Hurricane Ian
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 […]
The residential insurance market in Florida has experienced years of deterioration resulting in decreased availability of private market options, reductions in coverage and rising insurance premiums. As has been well established by the Florida Office of Insurance Regulation and others, Florida never really had a sinkhole problem, a mold problem, or a water damage problem…. […]
Florida Legislature, Insurance Regulation News, property insurance, residential insurance, Florida Hurricane Catastrophe Fund
Citizens Property Insurance Corporation, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation News, property insurance
The Florida Hurricane Catastrophe Fund (FHCF) projects that will be able to satisfy its $17 billion in single-season reimbursement obligations if called upon. The FHCF releases its estimated claims-paying capacity in May and October of each year. In its October estimate, the FHCF anticipates it would reach the $17 billion single season cap through $11.3 […]
claims-paying capacity, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance
hurricane season, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News
The Florida Hurricane Catastrophe Fund (FHCF) begins the 2020 in a strong position to pay reimbursements to insurers if the need arises this year. The FHCF releases estimates of its claims-paying capacity in May and October of each year. The FHCF projects having $11.62 billion of cash on hand plus $650 million in pre-event note […]