FHCF October 2019 Bonding Capacity Report
FHCF October 2019 Bonding Capacity Report.pdf
FIC: FHCF Insurer Reporting Rule Workshop Held
By: Katrina Callaway, FIC General Counsel The FHCF held a rule workshop on October 17, 2019 on Rule 19-8.029 on insurer reporting requirements and responsibilities. The workshop also covered the forms incorporated in the rule. No one objected or made substantive comments to the rule changes during the workshop. A copy of the summary of…
FIC: Bad Faith Discussed By House Committee
By: Katrina Callaway, FIC General Counsel The House Civil Justice Subcommittee held a panel discussion about bad faith during its committee meeting on October 17, 2019. The presentations to the committee can be found here. The Committee also received some public testimony, discussed below, at the end of the meeting. Bad faith and other tort…
FIC: FHCF Still In Good Financial Shape Per Claims Paying Estimate
By: Katrina Callaway, FIC General Counsel The Advisory Council (Council) for the Florida Hurricane Catastrophe Fund (FHCF or Fund) met on October 17, 2019 and learned the FHCF is still strong financially despite losses to the Fund in 2017 from Hurricanes Irma and in 2018 from Hurricane Michael. However, the Fund’s liquidity is a little…
FIC: FHCF Hurricane Irma & Michael Reimbursement Update
By: Katrina Callaway, FIC General Counsel The Florida Hurricane Catastrophe Fund (FHCF) Advisory Council received an update on FHCF losses from Hurricanes Irma and Michael during its meeting on October 17, 2019. The FHCF losses from Hurricane Irma continue to grow. FHCF has paid $2.95 billion to 85 insurers for Hurricane Irma losses and estimates…
FIC: Hurricane Claims and Florida Specialty Insolvency Update Presented To House Insurance Committee
By: Katrina Callaway, FIC General Counsel During its meeting on October 16, 2019, the House Insurance & Banking Subcommittee received presentations on property insurance, hurricane claims, and the insolvency and liquidation of Florida Specialty Insurance Company. The committee heard from: Insurance Commissioner David Altmaier Greg Thomas, DFS Director of Consumer Services and Insurance Agency &…