Florida Hurricane Catastrophe Fund (FHCF)
Florida Hurricane Catastrophe Fund (FHCF) : "?the Florida Hurricane Catastrophe Fund (FHCF) provides an alternative to traditional hurricane reinsurance, reducing the cost of coverage significantly below that of private reinsurance and lowering the cost of insurance to homeowners. The FHCF was established in 1993 in response to Hurricane Andrew, which resulted in a severe shortage of catastrophe property reinsurance capacity, stricter policy terms and conditions, and sharp increases in property catastrophe reinsurance rates in the year following the storm". (GAO, Natural Disasters: Public Policy?, Nov 2007, 19; also 74-78)
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