Guest column: Sandy should be our wake-up call
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, Office of Insurance Regulation, Citizens Property Insurance Corporation
News & Updates
Florida Hurricane Catastrophe Fund
Commentary: After Sandy, create national catastrophe insurance fund
Insurance Regulation News, National Catastrophe Fund, property insurance, Florida Hurricane Catastrophe Fund
Insurance industry to Florida: Don’t sweat Sandy
property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, hurricane season, Office of Insurance Regulation
Should Sandy spur national disaster insurance?
Insurance Regulation News, Florida Hurricane Catastrophe Fund, hurricane season, Kevin McCarty, property insurance, National Catastrophe Fund
Citizens to Obtain Review of Surplus Note Program
The Board of Governors of Citizens Property Insurance Corporation has agreed to spend $200,000 for a review of its proposed surplus note program by Goldman Sachs. In addition, the board authorized up to $200,000 for another review by a firm with actuarial experience. The surplus note program would allocate up to $350 million of Citizens’ surplus to companies seeking to […]
FHCF Projects Short-Term Deficiency
The Florida Hurricane Catastrophe Fund adopted its most recent bonding estimate this week and announced that it could fall $1.5 billion short of meeting its total outstanding reimbursement commitments in the first 12 months following a substantial hurricane. Over 24 months, however, the FHCF projects that it would be able to fully reimburse insurers for […]
State Hurricane Insurance Fund Could Be Short of Cash Needs
property insurance, radey thomas yon & clark, Insurance Regulation News, Florida Hurricane Catastrophe Fund, hurricane season
FHCF Advisory Council to Meet
The Florida Hurricane Catastrophe Fund (FHCF) Advisory Council convenes this afternoon by telephone conference to conduct its regular business and update the status of the FHCF. Perhaps of most interest to the insurance industry and interested parties, the Advisory Council will be reviewing and adopting an updating estimate of the FHCF’s bonding capacity.
SBA Updates Status of FHCF
Speaking at this morning’s meeting of the Florida Cabinet, SBA Executive Director Ash Williams provided an update on the status of the Florida Hurricane Catastrophe Fund. Mr. Williams noted that the FHCF has $8.5 billion in cash on hand. Nonetheless, the FHCF seeks to move forward with pre-event bond financing because, as pointed out by […]
Citizens Weighs Important Decisions
The coming weeks will be important ones for Citizens Property Insurance Corporation as it receives public feedback and considers both its 2013 rate levels and ideas for reducing its size. This week the Office of Insurance Regulation will hold a public forum in Miami to allow interested parties to comment on Citizens’ recommended rates for […]