Florida Chief Financial Officer Alex Sink's proposal that she said could reduce the potential for future Hurricane Catastrophe Fund assessments on Florida policyholders was endorsed today by the Reinsurance Association of America.
RAA President Franklin W. Nutter issued a statement saying the proposal would better safeguard Florida's financial risk.
Under Ms. Sink's proposal, announced yesterday, 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.
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