The Florida Hurricane Catastrophe Fund said it expected at least some insurance companies to tap into the fund's $6bn reserves, said a report.
The state-backed reinsurance fund was set up after Hurricane Andrew struck Florida in 1994, causing an estimated $15bn in damage.
Insured losses from Hurricane Charley are expected to be in the region of $5bn-$10bn.
According to the report, the fund will collect claims information until the end of the year to determine reimbursements for insurers, based on the premiums they paid into the fund.
The fund had already received a letter from at least one company requesting the advance, said the report.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
