• Florida Hurricane Catastrophe Fund Issues 2015 Maximum Statutory Adjusted Capacity for Mandatory, Optional Coverage; Aggregate Retention
  • January 14, 2015
  • Law Firm: Colodny Fass P.A. - Fort Lauderdale Office
  • As required by law, the Florida Hurricane Catastrophe Fund ("FHCF") advised today, December 19, 2014, on its maximum statutory adjusted capacity for its mandatory coverage, maximum statutory coverage for any optional coverage and the aggregate fund retention used to calculate individual insurers' retention multiples in regard to its Reimbursement Contract Year commencing on June 1, 2015.

    As provided by Section 215.555(4)(c)1., F.S., the maximum statutory capacity for the FHCF's mandatory coverage is $17 billion.

    No additional optional coverages are available for the FHCF Reimbursement Contract Year commencing on June 1, 2015.

    The aggregate fund retention used to calculate individual insurers' retention multiples is $6.898 billion.