The proposed rates for 2020 are a result of the 2020 Ratemaking Formula Report which was presented to the Florida Hurricane Catastrophe Fund (FHCF) Advisory Council on March 17, 2020, and will be presented to the State Board of Administration (SBA) Trustees at their next meeting, which currently has not been scheduled. Estimated reinsurance premium and ceded losses have been included based upon last year’s costs; however, at this time no decision has been made regarding the placement of private risk transfer for the 2020-2021 contract year. If none is placed, or there is a change in net reinsurance costs, a table to adjust premium, ceded losses, and payout and retention multiples, as well as the indicated rate change, is provided for in Exhibit XVII of the Ratemaking Formula Report. If the SBA authorizes pre-event bonds/notes for the 2020-2021 contract year, a table to adjust rates, retention multiples and payout multipliers is included in Exhibit XI.
IMPORTANT NOTE: Interested parties should monitor this website for changes. According to 215.555(5)(b), Florida Statutes, the SBA may, at any time, revise the premium formula. These rates are for informational purposes only. Although they are believed to be reliable, they are not guaranteed as to accuracy or completeness.