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SB 1448

Florida Hurricane Catastrophe Fund

2026 Regular Session Introduced by Nick DiCeglie

SB 1448 restructures Florida's Hurricane Catastrophe Fund, the state insurer backstop protecting homeowners and insurers from catastrophic hurricane losses and insolvencies.

Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Appropriations
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Bill Summary · SB 1448

Legislative bill overview

SB 1448 modifies Florida's Hurricane Catastrophe Fund (HCF), a state-backed insurance mechanism designed to protect insurers against catastrophic hurricane losses. The bill adjusts how the fund operates, likely addressing coverage limits, assessment mechanisms, or policyholder surcharges related to hurricane claims.

Why is this important

Florida's insurance market has faced severe strain due to multiple major hurricanes and insurer insolvencies in recent years. The HCF serves as a critical backstop that prevents cascading insurance company failures, which would leave hundreds of thousands of Floridians without coverage. Changes to this fund directly affect insurance affordability, availability, and whether homeowners face additional assessments to replenish reserves after major storms.

Potential points of contention

  • Cost allocation: Disputes over whether assessments should be spread equally across all policyholders or risk-based, and whether out-of-state insurers should contribute proportionally
  • Coverage adequacy: Debate over whether proposed changes increase or decrease the fund's ability to cover catastrophic loss scenarios, potentially affecting insurer solvency
  • Policyholder protections: Questions about whether modifications preserve consumer safeguards or shift more financial risk onto homeowners through higher premiums or post-storm assessments

Compiled from official sources — confirm details with the bill’s official record.

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