CS/CS/HB 1107 - Florida Hurricane Catastrophe Fund

• Revises reimbursement contract coverage levels to 45 percent, 75 percent, or 90 percent of insurer losses (removing an outdated coverage level).

• Sets aggregate coverage limits at $17 billion for 2013-2014 contract year and $16.5 billion for 2014-2015 and subsequent years, with provisions for increases based on fund capacity.

• Renames the Florida Hurricane Catastrophe Fund Finance Corporation to the State Board of Administration Florida Hurricane Catastrophe Fund Finance Corporation.

• Modifies the exemption of medical malpractice insurance premiums from emergency assessments, changing the exemption expiration date from May 31, 2016 to June 1, 2013.

• Deletes temporary emergency coverage options (TEACO) that were created for 2007-2010 hurricane seasons and updates cross-references in residential property insurance rate filing provisions.