The proposed rates for 2019 are a result of the 2019 Ratemaking Formula Report which was presented to the Florida Hurricane Catastrophe Fund (FHCF) Advisory Council on March 19, 2019, and is scheduled to be presented to the State Board of Administration (SBA) Trustees on April 2, 2019. 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 2019-2020 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 Formula Report.
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.