The rosy picture laid out recently about the Florida Hurricane Catastrophe Fund’s status isn’t quite so rosy once you look at the real facts and consider the financial damage a storm would do to our state, given our reliance on government mechanisms and public debt rather than private capital.
The managers of the Cat Fund have done an able job in the context of a challenging statutory mandate. And the Cat Fund’s own managers have warned us that the Cat Fund is not as “flush with cash” as some might think, leaving all Floridians, including businesses and homeowners, financially vulnerable this hurricane season.
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