Viewpoint: Hurricane taxes fade as we ring in 2015
hurricane season, residential insurance, Florida Hurricane Catastrophe Fund, CAT Fund, Governor Rick Scott, Insurance Regulation
News & Updates
Florida Hurricane Catastrophe Fund
2014 Saw Significant Property and Casualty Issues
As 2014 comes to a close, several of the issues that commanded considerable attention during the year reached their resolution and set the framework for 2015 ahead. When we all return from the holidays, the legislative committee weeks will be upon us and the 2015 legislative session will begin before we know it. However, before […]
Depopulation Activity Reduces Citizens Policy Count
Citizens Property Insurance Corporation recently announced that it had 727,122 policies as of November 30, 2014. This is about half of Citizens’ policy count a few years ago when it reached a high of about 1.4 million policies. The Citizens portfolio consists predominantly of personal residential policies, although it continues to have significant commercial exposure […]
No hurricanes help Florida insurance industry rebuild
Citizens Property Insurance Corporation, Office of Insurance Regulation, hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation
FHCF Initial Event Fully Funded
The Florida Hurricane Catastrophe Fund (FHCF) recently announced that it anticipates being able to fully fund its $17 billion in initial season obligations and being able to support a large portion of a subsequent season’s obligations. Under its most recent projections, the FHCF would fall about $5 billion short of providing another $17 billion in […]
Scott, Crist differ on property insurance
Citizens Property Insurance Corporation, Office of Insurance Regulation, hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Governor Charlie Crist, Governor Rick Scott
Citizens to End Assessment Early
Citizens Property Insurance Corporation announced that a surcharge on Florida homeowners insurance premiums will end about two years earlier than originally planned. The assessment has been in place to pay off bonds from the 2005 hurricane season. The surcharge will end as of July 1, 2015. Inital projections would have extended the surcharge until June 30, 2017. Citizens is able to take this […]
Citizen surcharge could end two years early
Citizens Property Insurance Corporation, Office of Insurance Regulation, hurricane season, Florida Hurricane Catastrophe Fund, Florida Legislature, Insurance Regulation
Homeowner’s Insurance: Higher Cost For Less Coverage
Citizens Property Insurance Corporation, Office of Insurance Regulation, reinsurance, Florida Hurricane Catastrophe Fund, Florida Legislature, Governor Charlie Crist, Insurance Regulation
Florida 1.3% Hurricane Tax to End in January
Citizens Property Insurance Corporation, hurricane season, Florida Hurricane Catastrophe Fund, property insurance