Maximum Statutory Adjusted Capacity for Mandatory FHCF Coverage, Maximum Statutory Coverage for Optional Coverages, and Aggregate Retention for the 2013 Contract Year
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, 2013, 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.f., F.S., the maximum statutory coverage for the optional TICL coverage is $2 billion. The aggregate fund retention used to calculate individual insurers' retention multiples is $7.213 billion.
