TITLE

Shoring Up Florida's Insurance: Good Timing Ahead of Bad Weather

AUTHOR(S)
Sigo, Shelly
PUB. DATE
January 2005
SOURCE
Bond Buyer;Deal of The Year Awards, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Looks into the financial status of Florida Citizens Property Insurance Corp. after it sold a multimillion taxable auction-rate bonds to bolster its ability to pay claims in the event of a catastrophic storm after the state was raked by four hurricanes later in 2004. Comment of Jessica Buss, chief financial officer of the financial institution, on the purpose of the bond sale; Source of funds for the securities; Reason of the financial institution of choosing taxable auction-rate securities than issuing tax-exempt debt.
ACCESSION #
15749937

 

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