TITLE

Florida Cat Fund Plans to Sell $1 .22B To Cover Hurricane-Related Claims

AUTHOR(S)
Sigo, Shelly
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/12/2006, Vol. 356 Issue 32380, p40
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Florida Hurricane Catastrophe Fund Finance Corp. plans to sell 1.22-billion dollars of tax-exempt revenue bonds with six-year maturities to pay reinsurance claims from hurricanes that battered the state last year. Bond proceeds will go toward the estimated 4.5-billion dollars in losses the state-run. The bonds will be secured by a 1 percent assessment on most Florida property and casualty insurance policies.
ACCESSION #
20944507

 

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