The Florida Hurricane Catastrophe Fund (Cat Fund) is likely to increase its assessments early next year because it is still paying off claims associated with the eight hurricanes that struck Florida back in 2004 and 2005.
A number of insurers that purchased 90 percent coverage from the Cat Fund have already reached their deductible level for those two storm seasons, so they are passing on the cost of these new claims to the Cat Fund.
Many of these requests stem from claims that insurers are paying off for dam-
ages from Wilma, the slow-moving storm that hit South Florida in October 2005.
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