Florida Insurance Council in support of solvency for the cat fund
The state’s catastrophe fund to come up with when a major hurricane or series of hurricanes strike Florida, the uncertain economy is yielding a deep concern over the state’s ability to raise the full $28 billion that legislators obligated. The legislature should proceed with caution so not to underestimate the funds true capacity, while it certainly is wise to review the fund’s ability to deliver on its promises. The cat fund not only provides greater reinsurance capacity which, in turn, enables a larger amount of insurance, lawmakers need to remember that, as the states continues to grapple with the issue of maintaining an insurance market that can provide ample coverage at affordable rates for Florida families.

