Florida Hurricane Catastrophe Fund Issues 2014 Maximum Statutory Adjusted Capacity for Mandatory, Optional Coverage; Aggregate Retention

Dec 20, 2013

 

As required by law, the Florida Hurricane Catastrophe Fund advised today, December 20, 2013, on its maximum statutory adjusted capacity for mandatory coverage, maximum statutory coverage for any optional coverage and the aggregate fund retention used to calculate individual insurers’ retention multiples in regard to its Reimbursement Contract Year commencing on June 1, 2014.

    As provided in Section 215.555(4)(c)1., F.S., the maximum statutory adjusted capacity for the mandatory coverage is $17 billion.

      The aggregate fund retention used to calculate individual insurers’ retention multiples is $7.075 billion.

        To view the notice online, click here.

         

        Should you have any questions or comments, please contact Colodny Fass& Webb.

         

        Click here to follow Colodny Fass& Webb on Twitter (@CFTLAWcom)

         

         

        To unsubscribe from this newsletter, please send an email to Brooke Ellis at bellis@cftlaw.com.