Reinsurance picture improves for Florida
Florida homeowners, property insurers, Florida hurricane season, Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance
News & Updates
reinsurance
Hurricane Catastrophe Fund gets healthier with season approaching, has $10.16B to pay claims
Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance, hurricane season
Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?
Hurricane Ian, FHCF, special session, property insurance, Insurance Regulation News, reinsurance, Citizens Property Insurance Corporation
Governor’s Proclamation Outlines Scope of Session
Governor Ron DeSantis’ proclamation declaring a special session on property insurance identifies its scope and provides insight into the upcoming debate. The proclamation specifies the special session will consider (a) property insurance, (b) reinsurance, (c) changes to the Florida Building Code to improve the affordability of property insurance, (d) the Office of Insurance Regulation, (e) […]
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…. […]
FIO Requests Information on Climate Change
The Federal Insurance Office (FIO) of the U.S. Department of the Treasury (Treasury) has issued a Request for Information (RFI) seeking public input on climate-related financial risks and their impact on the insurance industry. The RFI requests written comments from interested parties on or before November 15, 2021. As background, the FIO points out that […]
Florida Hurricane Catastrophe Fund Performing Adequately, Its Advisor Says
reinsurance, claims-paying capacity, property insurance, Insurance Regulation News, Florida Hurricane Catastrophe Fund
Florida Cat Fund Foregoes Private Reinsurance for 2020 Hurricane Season
Insurance Regulation News, Florida Hurricane Catastrophe Fund, reinsurance, hurricane season
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 […]
Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold
Hurricane Irma, Insurance Regulatory News, Florida insurance market, property and casualty insurance, reinsurance, Citizens Property Insurance Corporation