The successful placement amply demonstrate private sector interest in catastrophe risk, and it comes at a good time for Citizens, which is losing some of its power to lay “hurricane taxes” on the private market.
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Florida Hurricane Catastrophe Fund
The Florida legislative session ended earlier this month with no real reforms to the Florida Hurricane Catastrophe Fund; but a late addition to the state budget attempts to shore up the Cat Fund’s finances through a tax-credit program. From Insurance Journal: Sponsored by Senator J.D. Alexander (R-Lake Wales), the plan is designed to help shore-up [...]
Florida Cat Fund reform needed sooner, not later
Christian Cámara, the Florida Director of the Center on Finance, Insurance and Real Estate at The Heartland Institute had an excellent op-ed piece on the Florida Catastrophe Fund published last week in the Gainesville Sun. In the piece, Cámara criticizes legislators and insurance regulators in Florida for not moving forward on Cat fund reform and [...]
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