Florida Homeowners Reinsurance Conference Call
According to Credit Suisse, homeowners’ insurers in Florida rely heavily on $29 billion of cheap reinsurance provided by the Florida Hurricane Catastrophe Fund (FHCF). However, given its funding status, it is expected that the FHCF would have a deficit of more that $18 billion in the event of a large hurricane. Without a secure funding source for FHCF’s deficit, primary homeowners’ insurers would likely have to purchase reinsurance from the private reinsurance marketplace or face a potential ratings downgrade from ratings agencies.
Since the fall of 1996, Demotech has reviewed and assigned Financial Stability Ratings® to virtually all of the start-up Property and Casualty insurance companies writing property insurance in Florida. This effort facilitated the depopulation of the Florida Residential Property Casualty Joint Underwriting Association and Citizens Property Insurance Corporation.
Materials pertaining to this conference call:
- Invitation to Conference Call
- Florida Legislation Status
- Letter Pertaining to FHCF
- Florida Homeowners Reinsurance Information for Year End 2008