The American Prospect
•79% Informative
Florida has been battered by four major hurricanes since 2017 : Irma , Michael , Ian , and Idalia .
Florida has pursued a deregulatory approach to resuscitate its death-spiraling property insurance market.
Republican Gov. Ron DeSantis and the Florida legislature have implemented a series of reforms aimed at protecting consumers and reducing insured losses.
Gov. DeSantis created a $2 billion reinsurance fund, elimination of one -way attorney fee provision in Florida law.
Reinsurance to Assist Policyholders ( RAP ) subsidizes industry-related risks with taxpayer dollars.
The tax-exempt Florida Hurricane Catastrophe Fund (FHCF) has disclosed plans to borrow up to $3.8 billion .
It remains unclear whether SBA is accurately pricing in the risk associated with its catastrophe bond investments, because the plan is prohibited from including ESG considerations in its investment decisions.
Catastrophe bonds are not the only financial instrument susceptible to climate-related financial risk within ILS, though they are the riskiest.
Florida is the only state where the chief financial officer oversees the Office of Insurance Regulation .
VR Score
79
Informative language
77
Neutral language
25
Article tone
formal
Language
English
Language complexity
74
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
18
Source diversity
13
Affiliate links
no affiliate links