FL H1053

Revises the Florida Hurricane Catastrophe Fund retention calculation for contract year beginning June 1, 2026, setting the retention multiple equal to $4.5 billion divided by total estimated reimbursement premium, removing previous annual exposure-based adjustments

Increases the loss adjustment expense reimbursement cap from 10% to 15% of total subject losses before reimbursement, effective June 1, 2026

Requires hurricane loss projections for actuarially indicated premiums to be determined by averaging results from all catastrophe models accepted by the Florida Commission on Hurricane Loss Projection Methodology

Sets the cash build-up factor to zero for the 2026-2027 contract year and changes the formula provision from mandatory to permissive for including cash build-up factors

Designates risk retention groups registered to do business in Florida as deemed insurance companies authorized to do business in the state