A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s reserves, potentially forcing it to place a small surcharge on Florida insurance premiums to finance more debt.
But that may not be such a big deal.
“…The burden on insurance policyholders ($85 billion premium base) and the state economy ($1.6 trillion state GDP) would be quite low,” reads the report, authored by senior analysts at Moody’s and based on data from the Florida Hurricane Catastrophe Fund.
The chief operating officer of the Cat Fund, Gina Wilson, agreed.
“It would not be material to the population,” W