If the Florida Hurricane Catastrophe Fund needs to float an emergency bond issue to pay for major storm losses, Berkshire Hathaway has agreed to buy up to $4 billion worth, a state official said.
Dennis MacKee, a spokesman for the State Board of Administration, said that through the deal "we are essentially trying to prepare ourselves for a difficult hurricane season."
The SBA with input from a nine-member council directs the Florida Hurricane Catastrophe Fund.
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