Florida Hurricane Catastrophe Fund (FHCF) Issues 2012-2013 Annual Report
Mar 11, 2014
The Florida Hurricane Catastrophe Fund (“FHCF”) published its Annual Report for Fiscal Year 2012-2013 today, March 11, 2014.
To view the Report, which provides data on the FHCF’s financial status and operational activities for the year ending June 30, 2013, click here.
The Report notes that no reimbursement payments for the 2013 FHCF Contract Year were required from participating insurers, since no hurricane has made landfall in Florida for the eighth consecutive year.
Also detailed are major FHCF activities for the year, which included issuance of $2 billion pre-event, taxable revenue bonds; continuation of loss reimbursements to participating insurers as a result of 2004 and 2005 losses; completion of payment of all 2004 loss reimbursements; administration of the Capital Build-Up Incentive Program; results of 102 exams of insurer exposure data for the 2012 FHCF Contract Year; and the results of exposure analysis reviews for 17 insurers, which collectively contribute 99.41 percent of FHCF premium.
To access the FHCF Annual Reports from previous years, click here.
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