Friday, February 26, 2010

Florida Cabinet Delays Hurricane Fund Assessments

The Florida Hurricane Catastrophe Fund needs $710 million to continue to pay claims still coming in from 2005's Hurricane Wilma but it is going to have to wait to assess policyholders to get those funds.

The Florida Cabinet yesterday indicated it wants more of those claims investigated to make sure they are legitimate claims before authorizing the bond and raising assessments on all policyholders to pay for them.

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