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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 […]
reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, claims-paying capacity
hurricane season, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News
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 […]
Citizens Property Insurance Corporation, reinsurance, property and casualty insurance, Florida insurance market, Insurance Regulatory News, Hurricane Irma
reinsurance, Insurance Regulation News, hurricanes, Florida, tax reform
hurricane season, reinsurance, Florida Hurricane Catastrophe Fund, Insurance Regulation News, property insurance, Florida CAT Fund
Kevin McCarty, reinsurance, Insurance Regulation News, Florida Office of Insurance Regulation, FAIR
As 2015 comes to a close, several aspects of this year’s insurance market stand out. Each year presents its share of successes and its share of challenges, which is expected in a cyclical industry. However, on balance we will remember 2015 for its continued stability in several key insurance markets. In Florida, our view of […]
The Florida Office of Insurance Regulation released a report summarizing the results of its annual reinsurance data call and stress test. Under the stress test, residential property insurers are required to identify how their reinsurance programs would respond to several hurricane scenarios, including a single large event or multiple smaller events. According to the OIR’s […]
