Senate panel to prep massive changes to property insurance market
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, Office of Insurance Regulation, Citizens Property Insurance Corporation
News & Updates
Florida Hurricane Catastrophe Fund
CFO Atwater Supports Comprehensive Approach to Property Market
Florida Chief Financial Officer Jeff Atwater spoke before the Senate Banking & Insurance Committee to say that “standing still” on Florida property insurance issues is not an option. Atwater encouraged the committee to pursue legislation designed to reduce the potential assessment burden on all Floridians that would arise from deficiencies in the state-created insurance entities. […]
Legislative Session to Cover a Range of Insurance Issues
The New Year’s celebrations are over and it’s back to work in Tallahassee. Before the annual legislative session begins in March, the Florida Legislature will hold a series of committee weeks to continue considering proposals for 2013. The insurance-related issues under consideration will range from health insurance to property insurance to workers’ compensation. The following […]
Fix hurricane mitigation system
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund
Guest column: Sandy should be our wake-up call
property insurance, Insurance Regulation News, Florida Legislature, Florida Hurricane Catastrophe Fund, Office of Insurance Regulation, Citizens Property Insurance Corporation
Commentary: After Sandy, create national catastrophe insurance fund
Insurance Regulation News, National Catastrophe Fund, property insurance, Florida Hurricane Catastrophe Fund
Insurance industry to Florida: Don’t sweat Sandy
property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund, hurricane season, Office of Insurance Regulation
Should Sandy spur national disaster insurance?
Florida Hurricane Catastrophe Fund, hurricane season, Kevin McCarty, Insurance Regulation News, National Catastrophe Fund, property insurance
Citizens to Obtain Review of Surplus Note Program
The Board of Governors of Citizens Property Insurance Corporation has agreed to spend $200,000 for a review of its proposed surplus note program by Goldman Sachs. In addition, the board authorized up to $200,000 for another review by a firm with actuarial experience. The surplus note program would allocate up to $350 million of Citizens’ surplus to companies seeking to […]
FHCF Projects Short-Term Deficiency
The Florida Hurricane Catastrophe Fund adopted its most recent bonding estimate this week and announced that it could fall $1.5 billion short of meeting its total outstanding reimbursement commitments in the first 12 months following a substantial hurricane. Over 24 months, however, the FHCF projects that it would be able to fully reimburse insurers for […]