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Florida Hurricane Catastrophe Fund

Summary of SB 1460 filed by Garrett Richter

Summary of SB 1460 filed by Garrett Richter

Richter is the chair of the Senate Banking and Insurance Committee.  This bill would address an accounting problem created by last year’s change in the “contract year” for the Florida Hurricane Cat Fund coverage. Last year’s change was intended to help insurers negotiate their reinsurance agreements earlier in the year with much more lead time […]

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Limited Apportionment Form Available

Limited Apportionment Form Available

An insurer with $25 million or less in surplus and writing at least 25% of its countrywide property insurance premiums in Florida may file a petition to become a “limited apportionment company.”  By law, an insurer must submit its request to be a limited apportionment company within the first 90 days of each calendar year.  […]

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