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Despite recent attempts to stabilize its financial health, questions remain about the state's backup insurance fund's ability to pay off claims in the event of a major storm in the coming months.

Moves by Florida lawmakers to provide a federal backstop to the state's severely underfunded Hurricane Catastrophe Fund are running into strong headwinds on Capitol Hill.

Loosening credit markets have boosted the Florida Hurricane Catastrophe Fund's anticipated post-event bonding capacity by an additional $5 billion, easing the shortfall in projected claims-paying ability for the fund, a FHCF spokesman said.

Florida lawmakers' moves to provide a federal backstop to the state's severely underfunded Hurricane Catastrophe Fund are running into strong headwinds.

Kevin McCarty, Florida Insurance Commissioner, speaking before the Florida Senate Ways and Means Committee, said there is a "cratering" of the financial sector due to the economic downturn, and

State lawmakers rolled the dice in 2007 and expanded the size of the backup insurance the state provides to insurers as a way to control the prices of private property insurance. Their luck has held

Florida Insurance Commissioner Kevin McCarty tried to lobby members of Congress last week for a federal line of credit to help cover an $18.5 billion shortfall in the state's Hurricane Catastrophe

Florida Insurance Commissioner Kevin McCarty tried to lobby Congress today for federal supports for an $18.5 billion shortfall in the state's Hurricane Catastrophe Fund and was hit with criticism