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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 […]
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 Hurricane Catastrophe Fund, Insurance Regulation News
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 […]
Florida Hurricane Catastrophe Fund, Insurance Regulation News, hurricane season
The Florida Senate Banking and Insurance Committee released its issue brief (2012-226) regarding Citizens Property Insurance Corporation on September 1, 2011. As one would expect all of the numbers are very large. The brief provided up to date information on the total policies in force and the surplus in each of the three statutorily created […]
Citizens Property Insurance Corporation, hurricane season, Florida Hurricane Catastrophe Fund, Insurance Regulation News
Florida Hurricane Catastrophe Fund, Insurance Regulation News, Windstorm Loss Mitigation Discounts
The 2011 Atlantic Hurricane season is officially underway, and with it comes the annual concerns for Florida and other coastal states. In the insurance industry, we tend to focus on the economic effects of hurricanes– the design of insurers’ reinsurance programs, the impact on Citizens Property Insurance Corporation and its reliance on assessments, and the […]
hurricane season, Florida Hurricane Catastrophe Fund, Insurance Regulation News
