Few ports in a storm without Cat Fund reform
The James Madison Institute and the R Street Institute, members of the Stronger Safer Florida coalition, to which the Florida Consumer Action Network (FCAN) belongs, recently released a report on this subject entitled, “Ten Reforms to Fix Florida’s Property Insurance Marketplace — Without Raising Rates.”
The report suggests, “In its current form, the Cat Fund poses the greatest danger to Florida’s insurance system, as well as the state’s ability to recover quickly after a major hurricane.” One of the feasible reform measures the report cites is an incremental reduction plan, proposed by Rep. Bill Hager (R-Boca Raton).
