Tampa Bay Times
Catastrophe Fund may pay out $5.1B
Hurricane Irma’s rampage may require the state fund that provides backing to private insurers to pay up to $5.1 billion in claims. Anne Bert, chief operating officer for the Florida Hurricane Catastrophe Fund, said the fund will be able to pay claims with cash and not borrow any money. The financial health of the fund is important because the state can impose a surcharge on most insurance policies if money runs out.