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HB 1349

Florida Hurricane Catastrophe Fund

2026 Regular Session Introduced by Hillary Cassel

HB 1349 modifies Florida's Hurricane Catastrophe Fund, a state reinsurance mechanism protecting property insurers and homeowners from catastrophic hurricane losses and potential taxpayer assessments.

Now in Insurance & Banking Subcommittee
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WeVote Research Nonpartisan
Bill Summary · HB 1349

Legislative bill overview

HB 1349 modifies Florida's Hurricane Catastrophe Fund (HCF), a state-backed insurance mechanism that provides reinsurance to property insurers after major hurricanes. The bill has been referred to three committees but specific provisions are not yet publicly detailed in available records. The measure addresses how the state manages catastrophic hurricane losses and insurer obligations during disaster events.

Why is this important

Florida's property insurance market is heavily stressed, with multiple insurers becoming insolvent and premiums rising dramatically. The HCF is a critical backstop that prevents total market collapse after major hurricanes, so modifications affect both insurance availability and costs for homeowners, while also determining state financial exposure and potential assessments on all policyholders.

Potential points of contention

  • State liability exposure: Changes to HCF triggering thresholds or payout limits directly affect whether taxpayers face special assessments after hurricanes
  • Insurance market dynamics: Modifications could either stabilize insurers (potentially lowering premiums) or reduce their incentive to maintain adequate reserves, creating moral hazard
  • Premium distribution: Any shifts in cost-sharing between the HCF, private insurers, and consumers will create winners and losers among different policyholder groups

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

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