X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

With the property-catastrophe market drying up following back-to-back years of record hurricane losses in 2004 and 2005, Florida lawmakers took a huge leap into the abyss by passing a law to provide cheaper reinsurance for primary carriers–with the savings to be passed on to policyholders.

There was only one problem–in a worst-case scenario, the move ultimately leaves citizens of Florida (that is, individual residents–not Citizens, the state’s property insurer of last resort) with tens of billions in potential exposure.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.