Gov. Scott supports shrinking Florida hurricane fund
Florida Hurricane Catastrophe Fund, Insurance Regulation News, Rick Scott
News & Updates
Florida Hurricane Catastrophe Fund
Storm clouds, and costs, are brewing (Editorial)
Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance
A.M. Best Insurance Law Podcast Discusses FHCF Reform
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 […]
FHCF Projects Shortfall
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 […]
Fla. hurricane fund has $3.2 billion shortfall
Florida Hurricane Catastrophe Fund, Insurance Regulation News
FHCF Advisory Council to Consider Cat Fund Capacity
The Advisory Council of the Florida Hurricane Catastrophe Fund meets October 18, 2011, to consider the most recent analysis of the FHCF’s claims-paying capacity. The FHCF’s ability to reimburse participating insurers for covered losses consists of a combination of its cash on hand and its ability to issue bonds. By law, the State Board of […]
Right-Sizing FHCF Adds Certainty But Affects Market Competitiveness
One of the most significant legislative proposals for the upcoming session in the residential property arena will be reducing the size of the FHCF. Jack Nicholson of the FHCF has said that while the FHCF currently projects that it could meet its mandatory obligations, worldwide financial conditions have reduced the margin for doing so to […]
Florida Approves Use of Revised RMS Hurricane Model
Florida Hurricane Catastrophe Fund, Insurance Regulation News
FHCF Seeks to Avoid “Over-Exposure”
Several months ago, the Florida Hurricane Catastrophe Fund (FHCF) released a proposal to gradually reduce the FHCF’s exposure to ensure it is able to meet its obligations to insurers. Jack Nicholson of the FHCF recently referred to moving from the current position in which the FHCF might meet its obligations, or hopes to meet its […]
Hurricane insurance fund may be too big
hurricane season, Florida Hurricane Catastrophe Fund, Insurance Regulation News