Group: Florida’s disaster preparedness strategy paying off
A coalition of business, consumer, and environmental groups found vindication Tuesday in the insurance industry’s ability to absorb the damage from Hurricane Matthew. Stronger Safer Florida in a news release credited “good luck and prudent decisions by the Florida Legislature” for the industry’s ability to weather the storm. Specifically, lawmakers and regulators invested in the Florida Hurricane Catastrophe Fund — the Cat Fund — and in reinsurance that shifted the risk out of state, the organization said. Both are priorities…
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