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Florida Moves to Ease Homeowners' Insurance Premiums.
SEATTLE -- In a special session summoned to confront the state's insurance crisis in January, Florida lawmakers imposed new regulations on insurers and expanded the state's role in shouldering real estate risks that private insurers won't carry. Several other states are considering similar legislation.
Florida's new law is designed to trim homeowners' premiums and protect policyholders through a basket of measures.
To reduce insurance costs, it offers:
* Options for property owners to buy less insurance, by raising deductibles, excluding contents of the home from coverage, and other means.
* Options to drop windstorm coverage if the mortgage lender for the property agrees.
* Possible subsidies to help low-income residents pay premiums.
* Relaxed capital requirements for the state's Hurricane Catastrophe Fund, which provides reinsurance.
- Fitch Downgrades Florida Hurricane Catastrophe Fund to 'AA-'.
- Press release article from: Business Wire January 29, 2007 700+ words
NEW YORK -- Fitch Ratings has downgraded the Florida Hurricane Catastrophe Fund (FHCF) and the Florida Hurricane Catastrophe Fund Finance Corp. (FHCF Finance Corp.) to 'AA-' from 'AA'. The downgrade affects...
- Fitch Rates Florida Hurricane Catastrophe Fund 2006A & B Revs 'AA'.
- Press release article from: Business Wire May 16, 2006 700+ words
...an 'AA' long-term rating to the Florida Hurricane Catastrophe Fund Finance Corp series 2006A and series 2006B revenue...The Rating Outlook is Stable. The Florida Hurricane Catastrophe Fund (FHCF) provides reinsurance coverage; reimbursing...
- Cat fund's changes may benefit Florida property owners.(News)(Florida Hurricane...
- Magazine article from: Business Insurance Bradford, Michael May 16, 2005 700+ words
...Florida last year makes changes to the state's Hurricane Catastrophe Fund that some insurers claim would protect policyholders...is expected to sign, addresses the Florida Hurricane Catastrophe Fund as well as several other property insurance...
- On the storm front: although Florida's neighboring states have suffered a fair...
- Magazine article from: Best's Review Bowers, Barbara July 1, 2005 700+ words
...help from the Florida Hurricane Catastrophe Fund. The fund, created...establish quite the kind of hurricane catastrophe fund that Florida instituted...reforms to the Florida Hurricane Catastrophe Fund. Allstate is withdrawing...
- Fla. hurricane cat fund sets rates, awaits IRS ruling. (Hurricane Catastrophe...
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Otis, L.H. May 2, 1994 700+ words
...Florida's newly established Hurricane Catastrophe Fund have been approved that...about talking about a state catastrophe fund. That just rules that completely...opinion concerned the Florida Hurricane Catastrophe Fund." "That rumor is not...
- Florida Hurricane Catastrophe Fund Rated 'A+' By Fitch - Fitch Financial Wire -
- Press release article from: PR Newswire October 3, 1997 700+ words
...bonding program of the Florida Hurricane Catastrophe Fund is rated 'A+' by Fitch...insurers participating in the catastrophe fund is broad-based and the...Participation in Florida's catastrophe fund is mandatory for its residential...
- Florida Hurricane Catastrophe Fund looks good as Frances bears down.
- Newspaper article from: Knight Ridder/Tribune Business News September 3, 2004 700+ words
...their losses from Hurricane Charley, the Florida Hurricane Catastrophe Fund should have no trouble covering whatever claims...said Jack Nicholson, president of the Florida Catastrophe Fund Finance Corp. That's not the only special...
- A.M. Best Comments on Ratings Impact of Recent Florida Legislation; Revises...
- Press release article from: Business Wire February 23, 2007 700+ words
...of companies to recoverables from the Florida Hurricane Catastrophe Fund (FHCF) and the impact on companies' overall...of the credit risk component of the Florida Hurricane Catastrophe Fund and its impact on our view of risk-adjusted...