Moody’s: Florida’s State Insurers Are Prepared

Florida has three state-sponsored, insurance-related entities.
September 3, 2019

Easing the concern around Hurricane Dorian’s potential destruction, a new report from Moody’s asserts that Florida’s state insurers are fiscally prepared for the storm.

Florida has three state-sponsored, insurance-related entities:  Citizens Property Insurance Corporation, Florida Hurricane Catastrophe Fund Finance Corporation (FHCF) (State Board of Administration Finance Corporation), and Florida Insurance Guaranty Association. These three carriers primary insurance coverage to residents and businesses, along with reimbursement coverage and claims-paying assistance to private insurers.

These public state-sponsored insurance carriers provide critical stability to Florida’s high-risk insurance market as many private insurers have fled in recent years following major storms.

A new assessment from Moody’s concludes that all three of these public entities are fiscally prepared to handle the worst forecasts of Dorian thus far, as each has built up multiple sources of liquidity to pay claims of a large storm.


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