Florida Hurricane Catastrophe Fund

The Florida Hurricane Catastrophe Fund (FHCF)1 is a state fund created in November 1993, during a special legislative session after Hurricane Andrew. The purpose of the FHCF is to protect and advance the state’s interest in maintaining insurance capacity in Florida by providing reimbursements to private insurers for a portion of their catastrophic hurricane losses. The money in the fund has grown over the past ten years because Florida hasn’t been hit by a hurricane since Wilma in 2005.

Continue Reading Bye Bye Florida Hurricane Tax

A year after the Florida Legislature and Governor Crist were duped by the insurance industry, legislation aimed at lowering the financial catastrophe of a major hurricane has been introduced to correct last year’s mistake.  See HB 983.  Last fall, I spoke with Alex Sink regarding her concern that the collapsing bond markets could make