If a one-in-250-year storm were to hit Florida, policyholder assessments to support the state’s hurricane catastrophe fund and its insurer of last resort could total $53 billion, a reinsurance broker has warned.

Paul Kneuer, senior vice president and chief reinsurance strategist for Holborn Corp. (a New York-based reinsurance broker, and one of the authors of a new white paper on the Florida property insurance market), said the $53 billion figure represents the burden of such a storm on Florida homeowners–and, ultimately, perhaps on the federal government.

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