Proposed Amendment to Florida Hurricane Catastrophe Fund Reimbursement Premium Formula Would Exclude Certain Jewelry Coverage Policies
Mar 21, 2018
A proposed amendment to Rule 19-8.028, F.A.C. relating to the Florida Hurricane Catastrophe Fund (“FHCF”) Reimbursement Premium Formula would exempt from FHCF participation any policy solely covering jewelry that is not associated with a policy covering a Residential Structure located in Florida, and that is not issued by an insurer that provides coverage of Residential Structures in Florida.
To view the proposed Rule draft, click here.
The FHCF has also advised of the following updates:
- Mandatory FHCF Proof of Loss Reports are due March 31, 2018–A mandatory Proof of Loss Report for Hurricanes Irma and/or Nate must be submitted through the FHCF’s Online Claims System no later than March 31, 2018 if a company’s total Ultimate Net Losses on Covered Policies for a specific hurricane is greater than 50 percent of its 2017 FHCF retention. To view the Bulletin, click here.
- Preliminary list of 2018/2019 FHCF Coverage Selections