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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 […]

Michael MolineMay 8, 2018

Citizens Property Insurance Corp. will transfer $1.42 billion in risk to the reinsurance and capital markets — a move its leadership said would leave it with reserves sufficient to cover a major storm. The policy, adopted unanimously during a telephone conference call of Citizens’ board of governors, “will allow us to face the upcoming wind […]

Associated PressMay 18, 2017

The Florida fund that helps private insurers pay out claims after a hurricane continues to be in strong shape ahead of storm season. Estimates prepared by Raymond James show the Florida Hurricane Catastrophe Fund will have $17.6 billion available this year. This marks the second year in a row that fund has more money than […]

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 […]

Associated PressOctober 19, 2016

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Florida’s streak of dodging hurricanes is over, but the state-created fund that helps private insurers pay out claims after a storm remains in strong financial shape. Anne Bert, the chief operating officer of the Florida Hurricane Catastrophe Fund, said preliminary estimates predict that the fund will pay out less than $200 million for Hurricane Matthew. […]

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 […]

Guest AuthorAugust 25, 2016

The 2016 Atlantic Hurricane Season could become very active soon if forecasters are correct. While the season has been fairly quiet so far, with just five named storms forming, NOAA recently increased its storm season prediction and is now calling for 12-17 named storms. So, as residents stock up on back-to-school supplies, it may be […]

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. […]

Tag: Florida Hurricane Catastrophe Fund

Florida CAT Fund healthy, but council contemplates doomsday scenario

Citizens Insurance board OK’s $1 billion-plus reinsurance plan

Florida’s hurricane fund remains strong heading into season

Christian Cámara: Reinsurance saved Florida from catastrophic losses

Despite storms Florida hurricane fund remains in good shape

Florida Hurricane Catastrophe Fund in robust health, report says

Group: Florida’s disaster preparedness strategy paying off

Steve Pociask: Prepare for the storms

Logan McFaddin: Peak hurricane season: Insurers say don’t wait

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