The Florida Hurricane Catastrophe Fund (CatFund) has issued its report detailing coverages selected byinsurers for 2009-2010. New legislation signed by the governor inlate May allowed participating insurers to select their optionalcoverage up until June 30, 2009. The results, as detailed in thereport, are:

1 Selected Coverage Percentage Options:Each company is entitled to select coverage options of 90percent, 75 percent, or 45 percent.

a. A total of 195 companies signedreimbursement contracts with the fund, down from 202 participatinginsurers last year.

b. Of these, 172 companies selected 90 percentcoverage (down four from last year); 23 companies selected 45percent coverage (down three from last year.) None selected 75percent coverage.

2 Selection of Temporary Increase in Coverage Limit(TICL). Each company is entitled to select its CatFund premium share of a total of $10 billion of TICL optionalcoverage.

a. Seventy-three companies selected TICLcoverage (down 60 from last year).

b. Sixty-one of the 73 selected their share ofthe full $10 billion limit available; 12 companies selected theirshare at less than the full $10 billion.

c. A total of 122 companies did not select TICLcoverage.

d. Total TICL coverage selected (based on aprojection of last year's premium) was $5,556,993,011. Therefore,of the $10 billion available, the TICL coverage not selected was$4,443,006,989.

e. The total reinsurance transferred back tothe private reinsurance market, capital markets, and/or retained byinsurers themselves, was $6,443,006,989. This includes the $2billion reduction in coverage by the Legislature and the aboveamount of TICL not selected by insurers out of the $10 billionavailable.

f. Citizens Property Insurance Corp.'sselections accounted for $3,587,038,215 (64.55 percent of the totalTICL). Of that, the Citizens High Risk Account selected$2,359,050,233; the Citizens Personal Lines Account/CommercialLines Account selected $1,227,987,982.

g. Of the $5,556,993,011 TICL coverageselected, all other participating insurers selected $1,969,954,796(35.45 percent of TICL selected).

3 Participating Insurers Selecting the Up-to-$10-MillionCoverage Option

a. Out of the 55 companies potentially eligibleto select the coverage, 25 did so.

b. Of these, 21 selected the full $10 million;four selected less than $10 million in coverage.