I recently wrote about the Florida Catastrophe Fund, and stories concerning its probable inability to pay claims if a major hurricane were to hit in the present credit market. Rating agencies are catching on to the problem. In a story buried at the bottom of the business section of the Tampa Tribune, AM Best warns that Florida’s Catastrophe … Continue Reading
A year after the Florida Legislature and Governor Crist were duped by the insurance industry, legislation aimed at lowering the financial catastrophe of a major hurricane has been introduced to correct last year’s mistake. See HB 983. Last fall, I spoke with Alex Sink regarding her concern that the collapsing bond markets could make it … Continue Reading