Special SBA/FHCF Meeting Scheduled To Approve Enhanced Financing and Revise Premium Formula

 

A special meeting of the Florida State Board of Administration (“SBA”) and the Florida Hurricane Catastrophe Fund Financing Corporation will be held on Wednesday, July 2, 2008 at 9:15 a.m.

SBA Agenda:

1. Request approval for the Florida Hurricane Catastrophe Fund (“FHCF”) to purchase financial products in order to enhance the ability of the FHCF to respond to participating insurers’ losses for the 2008/2009 reimbursement contract year.

a. Reinsurance Product Consideration.
b. Request approval to authorize the Florida Hurricane Catastrophe Fund Finance Corporation to engage in financial transactions to provide additional funding to the FHCF.
c. Request approval to revise the 2008/2009 Florida Hurricane Catastrophe Fund Premium Formula and the 2008 Rates to reflect the cost of financial products (a) and/or (b) above.
d. Request authority to amend the Florida Hurricane Catastrophe Fund budget for the purpose of including the cost of the financial products in (a) and/or (b) above.

Florida Hurricane Catastrophe Fund Finance Corporation Agenda:

Item 1:  Direct the development of a resolution authorizing the Florida Hurricane Catastrophe Fund Finance Corporation to provide additional funding to the FHCF.

 

A webcast of the meeting is available by clicking here.

A Colodny Fass representative will attend the meetings and provide a report on the proceedings.

 

Should you have any questions or comments, please do not hesitate to contact this office.

 

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