DeSantis wants insurance-focused special session
Hurricane Ian, Florida special session, property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund
News & Updates
Florida Hurricane Catastrophe Fund
The big reason Florida insurance companies are failing isn’t just hurricane risk – it’s fraud and lawsuits
Insurance Regulation News, Hurricane Ian, Demotech, assignment of benefits, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation
Special Session Proposals Address Property Market Concerns
The Florida House of Representatives and Senate have released their proposals for next week’s special session on property insurance reform. The special session follows last month’s call from Governor Ron DeSantis for a special session dealing with the crisis in Florida’s residential property insurance market. Reinsurance Protection Although their proposals are subject to change when […]
Florida Market Needs Lasting Reform
The residential insurance market in Florida has experienced years of deterioration resulting in decreased availability of private market options, reductions in coverage and rising insurance premiums. As has been well established by the Florida Office of Insurance Regulation and others, Florida never really had a sinkhole problem, a mold problem, or a water damage problem…. […]
Florida Senator Tries Cat Fund Changes to Cut Cost of Property Insurance
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, residential insurance
Florida Lawmakers May Hold Off on More Insurance Reforms, Despite Warnings
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation
FHCF Projects $17 Billion in Single Season Capacity
The Florida Hurricane Catastrophe Fund (FHCF) projects that will be able to satisfy its $17 billion in single-season reimbursement obligations if called upon. The FHCF releases its estimated claims-paying capacity in May and October of each year. In its October estimate, the FHCF anticipates it would reach the $17 billion single season cap through $11.3 […]
Florida Hurricane Catastrophe Fund Performing Adequately, Its Advisor Says
claims-paying capacity, property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance
Florida Cat Fund Foregoes Private Reinsurance for 2020 Hurricane Season
hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance
FHCF Enters Hurricane Season in Strong Financial Position
The Florida Hurricane Catastrophe Fund (FHCF) begins the 2020 in a strong position to pay reimbursements to insurers if the need arises this year. The FHCF releases estimates of its claims-paying capacity in May and October of each year. The FHCF projects having $11.62 billion of cash on hand plus $650 million in pre-event note […]