Florida fund goes cold on reinsurance; may fuel $2.5-$3bn demand hike
The Florida Hurricane Catastrophe Fund (FCHF) has decided not to buy private reinsurance in 2009 or renew the put option it bought from Berkshire Hathaway, The Insurance Insider understands. However, reforms to the Fund's temporary increase in coverage limit (TICL) could boost demand for increased limits of indemnity from the private reinsurance market to the tune of $2.5bn-$3bn.
The recommendation not to engage with the private financial markets at this time came from the Fund's team of financial advisers, lead...
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