Insurers

Summary

The bill rewrites how the state’s Hurricane Catastrophe Fund calculates an insurer’s “retention” and how much of a loss it will reimburse, adding new formulas and coverage‑level adjustments. It also treats registered risk‑retention groups as insurers, aligns a reinsurance‑assistance program with the new rules, and changes reporting and capacity limits for the fund. The changes are meant to clarify payouts and manage the fund’s financial health.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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