FHCF definition

FHCF means the Florida Hurricane Catastrophe Fund.
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FHCF means Florida Hurricane Catastrophe Fund.
Sample 1Sample 2Sample 3
FHCF or “Fund” means the Florida Hurricane Catastrophe Fund created in Section 215.555, Florida Statutes. (9) “Florida Insurance Code” is defined as those chapters
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Examples of FHCF in a sentence

  • The FHCF and the obligations of both parties under this Contract can be terminated only as may be provided by law or applicable rules.

  • This term means the entity with which the SBA contracts to perform administrative tasks associated with the operations of the FHCF.

  • This term means the sum of the projected Balance of the Fund as of December 31 of a Contract Year, plus any reinsurance purchased by the FHCF, plus the most recent estimate of the Borrowing Capacity of the FHCF, determined pursuant to Section 215.555(4)(c), Florida Statutes.

  • Company shall notify the FHCF immediately upon becoming insolvent.

  • The Projected Payout Multiple is derived by dividing the estimated single season Claims-Paying Capacity of the FHCF by the estimated total aggregate industry Reimbursement Premium for the FHCF for the Contract Year.

  • The Company’s Reimbursement Premium as paid to the SBA for the Contract Year is multiplied by the Projected Payout Multiple to estimate the Company’s coverage from the FHCF for the Contract Year.

  • If more than one Covered Event occurs in any one Contract Year, any reimbursements due from the FHCF shall take into account the Company’s Retention for each Covered Event.

  • However, the Company’s reimbursements from the FHCF for all Covered Events occurring during the Contract Year shall not exceed, in aggregate, the Projected Payout Multiple or Payout Multiple, as applicable, times the individual Company’s Reimbursement Premium for the Contract Year.

  • Pursuant to Section 215.555(4)(g), Florida Statutes, the FHCF is required to pay the “net amount of all reimbursement moneys” due an insolvent insurer to the Florida Insurance Guaranty Association (FIGA) for the benefit of Florida policyholders.

  • The applicable interest rate for interest credits, and for interest charges for adjustments beyond the Company’s control, will be the average rate earned by the SBA for the FHCF for the first four months of the Contract Year.


More Definitions of FHCF

FHCF means the Florida Hurricane Catastrophe Fund and any successor thereto.
Sample 1
FHCF means the Florida Hurricane Catastrophe
Sample 1
FHCF or "Fund" means the Florida Hurricane Catastrophe Fund created in Section 215.555, Florida Statutes.
Sample 1

Related to FHCF

  • IBNR means unpaid health claims incurred but not reported. The liability for IBNR claims is actuarially estimated based on the most current historical claims experience of previous payments, inflation, award trends, and estimates of health care trend changes.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • DOE means the U.S. Department of Energy.