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Michael MolineMay 18, 2018

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 […]

Peter SchorschNovember 2, 2017

The Florida Chamber of Commerce’s 2017 Insurance Summit is set to kick off today with a long list of presentations and panels, including a report from Florida CFO Jimmy Patronis on how the Sunshine State is “rising to the challenges it faces.” The two-day event, to be held at the Orlando Ritz Carlton, will include […]

Guest AuthorNovember 29, 2016

As the Nov. 30 end of the hurricane season approaches, Floridians should be thankful. While this year’s storms Hermine and Matthew brought an end to the state’s decade-long hurricane drought, they easily could have been stronger or cut a more destructive path. Indeed, had Hurricane Matthew tracked just 20 or more miles further west, it […]

Michael MolineOctober 18, 2016

The Florida Hurricane Catastrophe Fund holds $17.5 billion in liquid assets, enough to meet its statutorily mandated reserves with $500 million left over, administrators said Tuesday. Furthermore, the fund, a backstop to the state’s property insurance companies, can easily go to the financial markets to raise money if Florida suffers storm damage sufficient to strain […]

Staff ReportsOctober 11, 2016

A coalition of business, consumer, and environmental groups found vindication Tuesday in the insurance industry’s ability to absorb the damage from Hurricane Matthew. Stronger Safer Florida in a news release credited “good luck and prudent decisions by the Florida Legislature” for the industry’s ability to weather the storm. Specifically, lawmakers and regulators invested in the […]

Guest AuthorSeptember 16, 2016

Recent Tropical Storm activity in the Gulf of Mexico and the Atlantic Ocean remind us of one thing — Florida is ground zero for tropical weather activity. In June, parts of Florida’s Gulf Coast became inundated with rain, causing flash flooding, tornado spin-offs and heavy wind as Tropical Storm Colin made landfall in Florida’s Big […]

Gary FineoutMay 13, 2016

Florida’s continued lucky streak when it comes to dodging hurricane is helping a key state fund reach its best financial shape ever in the two decades it has been in place. The state-created fund known as the Florida Hurricane Catastrophe Fund should have $17.4 billion available for the Atlantic hurricane season that starts June 1. […]

Peter SchorschOctober 26, 2015

In the wake of Hurricane Patricia‘s thrashing of Mexico, a pair of conservative think tanks are warning Florida to fix its storm-related insurance system. The James Madison Institute and R Street Institute released a policy brief last week,”Shoring Up Florida’s Property Insurance Market,” in which the organizations argue for the Legislature to pass reforms to “eliminate cost […]

Gary FineoutMay 13, 2015

Florida’s nine-year streak of avoiding hurricanes is helping the state reach a historic milestone: for the first time ever, the state-created fund designed to help pay out claims after storms has enough cash and assets on hand to pay off everything it could owe. New estimates show the Florida Hurricane Catastrophe Fund should have $17 […]

Guest AuthorFebruary 10, 2015

Florida’s property insurance system has been on a roller-coaster ride over the past 10 years. Since Hurricane Wilma struck Florida’s coast in October 2005, the Sunshine State has lived up to its moniker, having gone more than nine years and four months without a landfall. And that unprecedented streak of luck has allowed the state […]

Tag: Cat Fund

Florida CAT Fund healthy, but council contemplates doomsday scenario

Florida Chamber’s 2017 Insurance Summit kicks-off in Orlando

Christian Cámara: Reinsurance saved Florida from catastrophic losses

Florida Hurricane Catastrophe Fund in robust health, report says

Group: Florida’s disaster preparedness strategy paying off

Steve Pociask: Prepare for the storms

Florida’s hurricane fund in best shape ever ahead of season

Storm insurance reforms still needed, expert says

Florida’s hurricane insurance fund strong for storm season

Sal Nuzzo: Florida's Vanilla Ice property insurance system