Florida Hurricane Catastrophe Fund Schedules Rule Workshop on Proposed 2015-2016 Reimbursement Contract

The Florida Hurricane Catastrophe Fund (“FHCF”) has scheduled an August 20, 2014 Rule Development Workshop for discussion of proposed amendments to Rule 19-8.010, “Reimbursement Contract,” relating to the 2015-2016 FHCF Contract Year.  

To view the Workshop notice, click here.

To view the draft Rule, Reimbursement Contract and related Forms, click on the hyperlinks below:

• Rule 19-8.010 – Reimbursement Contract
• 2015 Reimbursement Contract 
• Addendum No. 1 to Reimbursement Contract (Citizens) 
• Appendix A to Addendum No. 1 to Reimbursement Contract (Citizens) 
• Optional Amendment to Change Prior Elections  

The Workshop is scheduled for 9:00 a.m. to 11:00 a.m. in Room 116, (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, Florida.  To participate via teleconference, dial (888) 670-3525 and enter conference code 7135858151.

Proposed revisions to the FHCF Contract include:

• A specification that Citizens Property Insurance Corporation’s Coastal Account, and its Personal and Commercial Lines Accounts will be treated by the FHCF as two separate participating insurers–each with its own reportable exposures, Reimbursement Premium, Retention and Ultimate Net Loss
• The addition of an exclusion for any other policy providing a layer of windstorm or hurricane coverage for a particular structure below a layer of self-insured windstorm or hurricane coverage for the same structure.
• The addition of “or living quarters” to the exclusion for “barns with apartments”
• The authorization to use executive officers’ electronic signatures on the Reimbursement Proof of Loss Report

The FHCF Advisory Council is scheduled to meet on August 20 at 1:30 p.m. after the Workshop to discuss changes to the Reimbursement Contract and vote on approval to file Rule 19-8.010 and its incorporated forms for Notice and Adoption if no hearing is subsequently requested. 

To access the meeting via teleconference, dial (888) 670-3525 and enter conference code 7135858151.

To view the agenda, click here.

A Colodny Fass& Webb representative will attend these events and provide a report.

 

 

Should you have any questions or comments, please contact Colodny Fass& Webb. 

 

 

 

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