Online Sunshine Logo
Official Internet Site of the Florida Legislature
June 15, 2024
Text: 'NEW Advanced Legislative Search'
Interpreter Services for the Deaf and Hard of Hearing
Go to MyFlorida House
Go to MyFlorida House
Select Year:  
The Florida Statutes

The 2023 Florida Statutes (including Special Session C)

Chapter 627
View Entire Chapter
F.S. 627.35191
627.35191 Required reports.
(1) By February 1 of each year, the Florida Hurricane Catastrophe Fund and Citizens Property Insurance Corporation shall each submit a report to the Legislature and the Financial Services Commission identifying their respective aggregate net probable maximum losses, financing options, and potential assessments. The report issued by the fund and the corporation must include their respective 50-year, 100-year, and 250-year probable maximum losses; analysis of all reasonable financing strategies for each such probable maximum loss, including the amount and term of debt instruments; specification of the percentage assessments that would be needed to support each of the financing strategies; and calculations of the aggregate assessment burden on Florida property and casualty policyholders for each of the probable maximum losses.
(2) In May of each year, Citizens Property Insurance Corporation shall also provide to the Legislature and the Financial Services Commission a statement of the estimated borrowing capacity of the corporation for the next 12-month period, the estimated claims-paying capacity of the corporation, and the corporation’s estimated balance as of December 31 of the current calendar year. Such estimates must take into account that the corporation, the Florida Hurricane Catastrophe Fund, and the Florida Insurance Guaranty Association may all be concurrently issuing debt instruments following a catastrophic event.
History.s. 11, ch. 2013-60; s. 5, ch. 2014-104.