Citizens is a not-for-profit, tax-exempt entity, established by
The FHCF's reimbursement obligation is limited to the lesser of its annually set statutory limit or its claims paying resources, which consist of funds on hand at the beginning of the contract year,
As a reinsurer, the FHCF's reimbursement obligation does not commence until an industry retention layer is met by the insurers. For the 2016 season, the retention layer is
Additional information is available at 'www.fitchratings.com'.
--'Fitch Rates FL Hurricane Catastrophe Fund
--'Fitch Upgrades Citizens Property Insurance Corp., FL, PLA/CLA to 'AA-'; Outlook Stable (
--'Fitch Upgrades Citizens Property Insurance Corp., FL, Coastal Account to 'AA-'; Outlook Stable (
Source: Fitch Ratings