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Florida Cat Fund Can Handle Recent Loss, Chairman Says

At a meeting with its financial advisors on Tuesday, the fund's Advisory Council was told that its total reimbursement capacity was estimated at $13.2 billion for a 12-month period and $11.8 billion i

By Matt Brady | Updated on October 15, 2008

Florida’s Hurricane Catastrophe Fund has taken a hit from the economic meltdown of the past few weeks, but its chairman said the fund can and will meet its current obligations.

At a meeting with its financial advisors on Tuesday, the fund’s Advisory Council was told that its total reimbursement capacity was estimated at $13.2 billion for a 12-month period and $11.8 billion if bonding were limited to a six-month period.

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