Maximum Statutory Adjusted Capacity for Mandatory FHCF Coverage, Maximum Statutory Coverage for Optional Coverages, and Aggregate Retention for the 2019 Contract Year
NOTICE IS HEREBY GIVEN by the State Board of Administration of Florida, as required by paragraph 215.555(16)(d), F.S., for the Florida Hurricane Catastrophe Fund (FHCF) Reimbursement Contract Year commencing on June 1, 2019, 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 subparagraph 215.555(4)(c)1., F.S., the maximum statutory capacity for the mandatory coverage is $17 billion. No additional optional coverages are available for the Reimbursement Contract Year commencing on June 1, 2019. The aggregate fund retention used to calculate individual insurers' retention multiples is $7.422 billion.
