The state-created reinsurance fund that is called the "backbone" of Florida's fragile property insurance market has returned to solid ground heading into the 2010 hurricane season.
For the last two years, financial advisors with the Florida Hurricane Catastrophe Fund (Cat Fund) have put together a gloomy analysis that concluded that the fund would have trouble if it were ever forced to pay out claims associated with a massive hurricane.
The financial uncertainty was due both to the sheer size of the Cat Fund's exposure as well as the huge global meltdown in the financial markets that tightened up credit availability in the fall of 2008.
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