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.
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