Faced with a rising number of consumer complaints, Florida’s state-backed property insurer has announced a series of changes to its takeout program. The news comes as the insurer said it is highly unlikely to need policyholder assessments next year. Citizens …
Guy Carpenter & Company released Part II of the two-part Ten-Year Retrospective of the 2004 and 2005 Atlantic Hurricane Seasons. Part II focuses on the 2005 hurricane season and the cumulative effects of both the 2004 and 2005 seasons on …
A1.3 percent surcharge on most property/casualty policies in Florida to help pay for past hurricane claims is coming to an end earlier than originally planned. The Florida Cabinet voted this week to end the assessment on policyholders that was begun …
In 2008, Florida’s government-run property insurer paid Warren Buffett $224 million to agree to buy its debt if a major storm struck. Six hurricane-free years later, the state is turning investors away. With hurricane season set to start June 1, …
Florida is heading into hurricane season with good news. The state-created fund that backs up private insurers in Florida appears to be in very good financial shape again this year. New projections show that the Florida Hurricane Catastrophe Fund should …
Florida is ending this year’s storm season with some good news. The state-created fund that backs up private insurers in Florida remains in the best financial shape it has been since it was created 20 years ago. New estimates drawn …
Mother Nature has been kind to Florida’s coastline lately with a record run of seven years without a hurricane making landfall, allowing property insurers time to re-stock their depleted coffers. As a result, before the new six-month hurricane season got …
Florida is heading into a new storm season with some good news for once. The state-created fund that backs up private insurers in Florida is in the best financial shape it has been in years — maybe the best since …
Plans to reform Florida’s state-backed reinsurance facility with proponents scaling back their proposals. The Florida Hurricane Catastrophe Fund has been the subject of legislative reform efforts for several years as its financial advisors have consistently warned the fund could not …
Florida’s state-run property reinsurance facility is preparing to issue $2 billion in revenue bonds to ensure it has enough money on hand to quickly pay insurers’ claims in the event of a major hurricane. The Florida Hurricane Catastrophe Fund has …
