Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance?
Insurance Regulation News, property insurance, special session, FHCF, Hurricane Ian, Citizens Property Insurance Corporation, reinsurance
News & Updates
reinsurance
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, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, claims-paying capacity
Florida Cat Fund Foregoes Private Reinsurance for 2020 Hurricane Season
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, 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
Citizens Property Insurance Corporation, reinsurance, property and casualty insurance, Florida insurance market, Insurance Regulatory News, Hurricane Irma
Florida should brace for double whammy: Tax reform, hurricanes
Florida, tax reform, reinsurance, Insurance Regulation News, hurricanes
Florida’s hurricane fund in best shape ever ahead of season
hurricane season, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, Florida CAT Fund