In the News Florida Looks to Restructure Its Hurricane Fund; Federal Option Proposed
From Insurance Journal:
R Street Senior Fellow R.J. Lehmann said the legislation would serve as a disincentive for states like Florida to address their own insurance markets and instead rely on underfunded residual market entities like Citizens. He said that a federal backstop would encourage developers to construct even more property along state’s coastline, increasing catastrophic exposure.
“A new federal reinsurance program would exacerbate all these programs,” said Lehmann.
