FHCF $10 Million Drop-Down Layer Amended to HB 569
Apr 27, 2009
Today, April 27, 2009, Florida Property Casualty Association lobbyists successfully procured an amendment to HB 569 by State Representative Ken Roberson that includes the reauthorization of the Florida Hurricane Catastrophe Fund $10 million drop-down layer for certain companies.
The amendment was offered by State Representative Bryan Nelson and adopted during the third reading of HB 569 on the House Floor today. To read the amendment, click here.
The bill, which passed 116-0, will now serve as a “backup” in the event that the House or Senate omnibus property insurance packages, SB 1950 or HB 1495, are not passed or are vetoed.