Florida’s Universal P&C Overstated Claims to Cat Fund, Must Pay $4M Fine, AG Says April 2, 2025 The Florida Hurricane Catastrophe Fund will not have to pay some $30 million to Universal Property & Casualty Insurance Co.,...
Hurricane Could Drain Florida Cat Fund’s Reserves. But That May Be OK, Report Says August 1, 2024 By William Rabb A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s...
Florida to Borrow Billions to Backstop Insurers After Hurricanes January 23, 2024 The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure...
Florida Cat Fund May Borrow Billions Next Year, Even Without Another Storm October 28, 2022 By William Rabb The Florida Hurricane Catastrophe Fund is well equipped to handle losses from Hurricane Ian, which are now estimated to cost...
Will Ian Consume Florida Cat Fund, Forcing More Back-Breaking Reinsurance? October 5, 2022 By William Rabb While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated...
Florida’s Ag Commissioner Wants Lower Retention for Cat Fund August 8, 2022 Florida’s agriculture commissioner, a Democratic candidate for governor, is on board with what many in the insurance industry have been...
Governor, Florida Cat Fund Board Agree to Raise Premiums for Insurers July 1, 2022 Florida property insurers have another cost increase to manage after the Florida Hurricane Catastrophe Fund was approved for a premium...
Florida Borrows $2.25B for Hurricane Fund While Rates Are Low September 1, 2020 By Danielle Moran With hurricane season barreling down on Florida, the state is seizing on low interest rates to borrow $2.25 billion for...
Florida Cat Fund Foregoes Private Reinsurance for 2020 Hurricane Season June 2, 2020 By Amy O'Connor Reinsurance coverage for the Florida Hurricane Catastrophe Fund will not be purchased for the upcoming hurricane season after overseers of...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals February 11, 2020 Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to...