'When you make changes to the Cat Fund to increase our obligations then this situation would change … anything that increases our obligations or makes us pay out quicker could deplete our resources.'
Although the legislation isn't finalized, a rough outline for the bills has been discussed within the last week among the House, Senate and Gov. Ron DeSantis' Office.
The Florida Hurricane Catastrophe Fund has reserves enough to easily cover its Hurricane Irma liabilities — as much as $300 million in excess of its $17 billion statutory liability limit. But what happens if a major storm — or a swarm of them — wipes out the fund’s assets? It might have to demand emergency […]
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