Florida?s Chief Financial Officer says the state should stop underwriting
\nhurricane risks since it did not result in lower insurance rates as
\npromised. Florida is on the hook for up to 28 Billion dollars in
\nhurricane losses. The CFO is proposing getting out of the risky business
\nbecause after two years of no storms, reinsurance rates for property
\ninsurers are coming down.? In making the proposal, Sink asks “Do we really
\nwant to mortgage our future when there is an opportunity
\nto spread this risk back out to the global market. Let’s spread this
\nrisk out globally, as opposed to have it all, these billions of dollars,
\nconcentrated right here on the backs of Florida citizens.”<\/p>\n

Sink is also proposing putting the authority for the hurricane fund
\nunder the Governor and Cabinet. Right now she has sole authority..and
\nresponsibility for the fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Florida?s Chief Financial Officer says the state should stop underwriting hurricane risks since it did not result in lower insurance rates as promised. Florida is on the hook for up to 28 Billion dollars in hurricane losses. The CFO is proposing getting out of the risky business because after two years of no storms, reinsurance […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/1187"}],"collection":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/comments?post=1187"}],"version-history":[{"count":0,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/1187\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/media?parent=1187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/categories?post=1187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/tags?post=1187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}