Florida Hurricane Catastrophe Fund Publishes 2010-2011 Annual Report
Jun 4, 2012
The Florida Hurricane Catastrophe Fund (“FHCF”) has published its Annual Report for Fiscal Year 2010-2011, which provides data on the FHCF’s financial status and operational activities for the year ending June 30, 2011. To view the Report, click here.
For the sixth consecutive year, no hurricane has made landfall in Florida. Consequently, no reimbursement payments for the 2011 FHCF Contract Year were required from participating insurers.
Of note, the FHCF reports that it has nearly completed the commutation process for losses from the 2004 and 2005 hurricane seasons. The emergency assessment on the assessable lines of business of one percent previously levied to finance the revenue bonds issued in 2006, 2008 and 2010 was increased to 1.3 percent on all policies written or renewed after January 1, 2011 until approximately 2016 when the debt will be paid off.
To access the FHCF Annual Reports from previous years, click here.
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