Florida CFO Proposes Cat Fund Repair

Florida Chief Financial Officer Alex Sink unveiled a proposal today to reform the Florida Hurricane Catastrophe Fund, which she said could reduce the potential for future assessments on Florida’s insurance policyholders.

As she explained it in a statement, the governor and his cabinet would be given the ability to set both the reinsurance levels and pricing of the cat fund’s optional coverages, giving greater flexibility and accountability to the management of Florida’s reinsurance fund.