On April 2, 2019 the Trustees of the State Board of Administration of Florida approved the Florida Hurricane Catastrophe Fund (FHCF) Ratemaking Formula Report for the 2019-2020 Contract Year. On June 18, 2019, CS/CS/CS/HB301 (HB301) was signed into law, increasing the FHCF’s Loss Adjustment Expense allowance from 5% to 10% of reimbursed losses on contracts effective June 1, 2019 and after. The Ratemaking Formula Report revised on July 25, 2019, reflects adjustments for the impact of changes due to HB301 and for the actual risk transfer structure. The revised Ratemaking Formula Report is scheduled to be presented to the State Board of Administration Trustees on July 25, 2019.
IMPORTANT NOTE: Interested parties should monitor this website for changes. According to s. 215.555(5)(b), Florida Statutes, the SBA may, at any time, revised 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.