News & Updates

Florida Hurricane Catastrophe Fund

Citizens Board Opposes Cat Fund Reduction

Citizens Board Opposes Cat Fund Reduction

| Written By: Travis Miller | Insurance

The Board of Governors of Citizens Property Insurance Corporation voted 5-3 to oppose legislation designed to reduce the size of the Florida Hurricane Catastrophe Fund.  The FHCF is Citizens’ primary source of reinsurance.  The FHCF has been promoting a plan to reduce its size through a combination of decreasing its maximum liability, increasing the co-participation requirement, and increasing […]

Continue Reading →

A.M. Best Insurance Law Podcast Discusses FHCF Reform

A.M. Best Insurance Law Podcast Discusses FHCF Reform

| Written By: Travis Miller | Insurance

I recently recorded a podcast in the latest episode of A.M. Best’s Insurance Law Podcast, a series that examines timely and important legal issues affecting the insurance industry from an attorney’s point of view.  In this episode, I discussed the pending proposal by the Florida Hurricane Catastrophe Fund to shrink its size and increase its costs over a […]

Continue Reading →

FHCF Projects Shortfall

FHCF Projects Shortfall

| Written By: Travis Miller | Insurance

The Florida Hurricane Catastrophe Fund has released the October update of its fund balance.  These projections take into account the FHCF’s cash on hand and its expected ability to issue bonds.  For the current FHCF contract year, the FHCF has $18.4 billion in aggregate potential reimbursement obligations.  However, the FHCF projects a $3.2 billion potential shortfall in […]

Continue Reading →