1. 2012 Hurricane Insurance Update Recharged “Partners in Recovery,” - FEPA Mid-Year Work Session- Sam Miller Florida Insurance Council Executive Vice President July 18, 2012

8. Insurance Positives Since Last Hurricane Landfall – Wilma, 2005 Florida Hurricane Catastrophe Fund in best financial shape ever Citizens also with great liquidity, $19.5 B Six years without a hurricane allowed cash to accumulate

9. Insurance Positives Since Wilma, 2005 Cat Fund - $8.6 B in cash Possible pre-hurricane financing program – bonds, other possibilities.

10. Insurance Positives Since Wilma, 2005 Citizens’ 2012 claims-paying ability: $19.5 B in total, maybe the most ever. $5B in pre-event liquidity (this must be repaid) $1.5 B in private reinsurance (a landmark development) $6.9 B from the Cat Fund Six years without a hurricane allowed cash to accumulate

11. Insurance Positives Since Wilma, 2005 Congress Extends for 6 Years National Flood Insurance Program – which covers storm surge and flooding. Rates will go up.

12. Insurance Positives Since Wilma, 2005 Key Reforms in SB 408 from 2011 session. Three-year limit on hurricane claims. Installment payments on roof installation, other repairs. Controls on public adjusters.

13. Insurance Negatives Entering 2012 Potential $1.8 B shortfall in Cat Fund Assessments from Cat Fund & Citizens

14. Insurance Negatives Entering 2012 Citizens still growing and competing with private insurers. Florida Supreme Court ruling striking public adjuster’s solicitation ban.

16. Florida’s Three-Legged Stool Emergency Management Community/State Division of Emergency Management/Florida Emergency Preparedness Association Office of Insurance Regulation Department of Financial Services Florida Insurance Council, Insurance Information Institute, and Florida Association of Insurance Agents and other agents groups

17. Partners in Recovery: Key Elements

21. Partners In Recovery Personal claims – key emergency management personnel Assistance and expedited handling

23. 2012 Hurricane Insurance Update Recharged “Partners in Recovery,” - FEPA Mid-Year Work Session- Sam Miller Florida Insurance Council Executive Vice President July 18, 2012