Proposed Changes to the Florida Hurricane Catastrophe Fund

The Frame

What this does

The bill impacts the financial structure of the state's hurricane reinsurance fund, potentially affecting insurance premiums for Florida homeowners by mandating that savings from a frozen fee be passed on to them.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Florida homeowners

Consumers may see changes in insurance premiums due to the mandated pass-through of savings from the frozen cash build-up factor.

Insurance companies

Insurers must adhere to new retention multiple calculations, loss adjustment expense caps, and premium filing requirements with the Office of Insurance Regulation.

State Board of Administration

The board is required to update premium formulas, file premiums for review, and manage the fund according to new statutory requirements.

What changed

Last recorded activity March 13, 2026.

What's next

Introduced.

Background

The Florida Hurricane Catastrophe Fund is a state-mandated reinsurance program designed to provide insurance companies with reimbursement for a portion of their hurricane losses. context

Summary

This bill updates how the Florida Hurricane Catastrophe Fund calculates insurance company reimbursements and premiums. It introduces a temporary freeze on a specific 'cash build-up' fee, requiring that any resulting savings be passed directly to insurance consumers.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

How will this bill affect my insurance premiums?

The bill requires that any savings realized from freezing the '' in the state's hurricane fund formula be passed directly to consumers.

What is the 'cash build-up factor'?

It is a component of the premium formula used by the Florida Hurricane Catastrophe Fund to build reserves; the bill freezes this factor for one year starting in the 2026-2027 contract year.

Who manages the Florida Hurricane Catastrophe Fund?

The State Board of Administration is responsible for managing the fund, setting reimbursement contracts, and calculating multiples.

Why It Matters

The bill impacts the financial structure of the state's hurricane reinsurance fund, potentially affecting insurance premiums for Florida homeowners by mandating that savings from a frozen fee be passed on to them.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

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Mandatory Consumer Pass-Through

The bill explicitly mandates that savings from a specific administrative fee freeze must be passed to consumers, a direct intervention in insurance pricing.

Florida Hurricane Catastrophe Fund Office of Insurance Regulation