Florida cat fund concerns return
Concerns remain over the Florida Hurricane Catastrophe Fund (FHCF) and its claims paying ability in the event of a major hurricane, potentially stimulating additional demand for private reinsurance from the state's insurers.
In a reminder of the challenges the state-backed fund faces in financing claims from an active storm season, it emerged that it will need to raise between $300mn and $600mn in additional bonding capacity to settle payments from the 2004/2005 season.
The recovery in debt markets and a...
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