Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …
Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew had just barreled through …
Heritage Insurance Holdings, Inc., a property and casualty insurance holding company, announced that its insurance subsidiaries, Heritage Property & Casualty Insurance Co. and Zephyr Insurance Co., have completed the placement of their 2017-2018 reinsurance programs. The programs are incorporated into …
The Florida fund that helps private insurers pay out claims after a hurricane continues to be in strong shape ahead of storm season. Estimates prepared by Raymond James show the Florida Hurricane Catastrophe Fund will have $17.6 billion available this …
The Florida Office of Insurance Regulation (OIR) has issued an order establishing the 2017 commercial property rates for Citizens Property Insurance Corporation. Rates are going up for all accounts except the Commercial Property Non-Residential Multi-Peril. Some lines will see rate …
Florida’s continued lucky streak when it comes to dodging hurricanes is helping a key state fund reach its best financial shape ever in the two decades it has been in place. The state-created fund known as the Florida Hurricane Catastrophe …
Florida completed a $1.2 billion in revenue bond sale on Feb. 8 issued by the State Board of Administration Finance Corporation, formerly known as the Florida Hurricane Catastrophe Fund (FHCF). The fund is designed to help private insurers pay claims …
Guy Carpenter & Company, LLC, has reported that “after two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. “Price declines moderated to decreases averaging in the high …
