NOTICE IS HEREBY GIVEN by the State Board of Administration of Florida, as required by Section 215.555(18)(d), F.S., for the Florida Hurricane Catastrophe Fund (FHCF) Reimbursement Contract Year commencing on June 1, 2011, of the maximum statutory adjusted capacity for the mandatory coverage, the maximum statutory coverage for any optional coverage, and the aggregate fund retention used to calculate individual insurers retention multiples. As provided in Section 215.555(4)(c)1., F.S., the maximum statutory adjusted capacity for the mandatory coverage is $17 billion. As provided in Section 215.555(17)(d)9.c., F.S., the maximum statutory coverage for the optional TICL coverage is $6 billion. The maximum statutory coverage for the optional coverage available under Section 215.555(4)(b)4., F.S., to insurers that purchased coverage under that subparagraph in 2008, limited apportionment companies, and insurers that have been approved to participate in the Insurance Capital Build-Up Incentive Program is $980 million; this calculation is based on the number of companies that qualify under Section 215.555(4)(b)4., F.S., as of the date of this notice and on one reinstatement of the per event limit. The aggregate fund retention used to calculate individual insurers retention multiples is $7.369 billion.
- Maximum Statutory Adjusted Capacity for Mandatory FHCF Coverage, Maximum Statutory Coverage for Optional Coverages, and Aggregate Retention for the 2011 Contract Year
