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- Title
A Review of the Development of Residual Market Mechanisms in Florida.
- Authors
Cole, Cassandra R.; Macpherson, David; Maroney, Patrick; McCullough, Kathleen A.; Newman Jr, James W.; Nyce, Charles M.
- Abstract
Florida's property insurance residual market is particularly complex because of the number of mechanisms involved and the volume of related legislative activity since 1992. Because of the high exposure to hurricane risk, the potential deficit assessments levied by the various residual market mechanisms in the state have been an ongoing concern to legislators, policyholders, insurance companies, and the media. As such, the purpose of this article is to review actions taken by the Florida Legislature related to the property insurance market in an effort to provide an understanding of how changing insurance market conditions, public policy objectives, and political factors can affect the development of residual market mechanisms, and how Florida's current residual market mechanisms function.
- Subjects
FLORIDA; PROPERTY insurance policies; CASUALTY insurance; INSURANCE pools; LEGISLATIVE bodies; INSURANCE companies
- Publication
Journal of Insurance Regulation, 2009, Vol 27, Issue 4, p55
- ISSN
0736-248X
- Publication type
Article