Florida Hurricane Catastrophe Fund Releases 2010 Proposed Rates
Apr 19, 2010
The Florida Hurricane Catastrophe Fund released its 2010 proposed rates on April 19, 2010.
To view the rates, click on the hyperlinks below:
Approved by Florida’s State Board of Administration on April 13, 2010, these rates represent the proposed 2010 rates as a result of the 2010 FHCF Premium Formula and are based on the 2010 FHCF Ratemaking Formula Report, a copy of which can be accessed by clicking here.
The FHCF has cautioned that no rates are final until the conclusion of the 2010 Florida Legislative Session and subsequent passage of an Appropriations bill. The rates, which may be revised at any time, assume:
- Legislative funding of $10 million for mitigation
- No funding for financial product expense
- A FHCF per-event retention of $7.142 billion (which drops to one-third on the third largest and subsequent event)
- A FHCF limit level of $17.0 billion
Should you have any questions or comments, please contact Colodny Fass.
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