Tuesday, June 26th, 2007 — The state catastrophe fund that pays damage claims when home insurers cannot is leaning against buying additional backup coverage for itself, because the cost would outweigh the need, Floridas chief financial officer said Monday. The extra reinsurance for the Hurricane Catastrophe Fund would cost about $600 million, and buying it would leave less money available to pay claims for smaller storms, Chief Financial Officer Alex Sink said.