The assessment imposed by the Florida Hurricane Catastrophe Fund (FHCF) will end 18 months earlier than previously projected. Governor Scott and the Cabinet voted to terminate the assessment as of January 1, 2015 rather than the scheduled July 1, 2016, end date. The assessment currently is 1.3% of premiums. Insurers add the assessment amount to […]
The Florida legislature adopted SB 542 intended to encourage admitted market insurers to write personal residential flood insurance programs. If approved by the Governor, the bill will make changes to Florida’s rating law and modeling review process to facilitate private flood products. Section 627.062, Florida Statutes, lists factors to be considered by the Office of […]
The beginning of a new year always brings with it an acceleration of Florida’s consideration of key public policy issues affecting the insurance industry. Activity in Tallahassee slows down in the second half of December, soon followed by the realization that the next legislation will be here quickly. For the property insurance industry, this means […]