Florida Hurricane Fund in Better Shape But Could Still Be Short on Cash

Florida’s state-run reinsurance facility still faces a potential $1.5 billion gap to fulfill its maximum mandatory obligation, although it appears poised to be in better financial condition for the 2013 hurricane season than previously thought. With just six weeks left in the hurricane season, the financial outlook for the Florida Hurricane Catastrophe Fund has improved but there is still concern whether it will meet its statutory obligation to have enough funds for two hurricane seasons.