Hurricane Andrew hit South Florida like a bomb in August 1992 and changed the way the State and the insurance industry respond to hurricane risks. The 2004-05 hurricanes showed us that this is also a frequency issue, not just severity. Not too many hurricanes since 2004-05 but history and science suggest that it’s just a matter of time before the next big one(s) make landfall.
In this session, three speakers will discuss different aspects of the government response to hurricane risk.
The first speaker will provide an overview and update of the Florida Hurricane Catastrophe Fund.
The second speaker will describe Florida Commission on Loss Projection Methodology process and standards for approving catastrophe models.
The third speaker will talk about Florida residual market trends.
Panelists:Benoit Carrier,Managing Director,Aon Benfield;John Rollins,Chief Risk Officer,Citizens Property Insurance Corp.;Anne Bert,Chief Operating Officer,Florida Hurricane Catastrophe Fund;Lorilee Medders,Research Faculty & Storm Risk Center Director,Florida State University