Florida Hurricane Catastrophe Fund Incorporates Ratemaking Formula, Basic Premium Rates

 

On May 14, 2007, the Florida Hurricane Catastrophe Fund (FHCF) held a public meeting on Rule 19-8.028 relating to the Reimbursement Premium Formula.  During the meeting, the ratemaking formula developed by the “Florida Hurricane Catastrophe Fund: 2007 Ratemaking Formula Report to the State Board of Administration of Florida, March 20, 2007” was incorporated into Rule 19-8.028, as well as the basic premium rates developed by the State Board of Administration on April 3, 2007 in Form FHCF-Rates 2007.

A copy of Rule 19-8.028 showing the incorporated changes is attached for your review.

The FHCF will discuss the Rule further and accept public comments on May 15, 2007 during an advisory council meeting.  A copy of the May 15 meeting notice is also enclosed.

On June 12, 2007, the Rule will be recommended for adoption.

We will continue to update you as new information becomes available.

Please do not hesitate to contact this office should you have any questions or require additional information.