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	Record Group Number:	000120
	Series/Collection Number:	.S 2202
	Creator:	Florida. State Board of Administration.
	Title, Dates:	Florida Hurricane Catastrophe Fund Advisory Council minutes, 1993-2021.
	Amount:	9.00 cubic ft.
	Medium Included:
	Organization/Arrangement:	Chronological by meeting date.
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	Biographical/Historical:	The State Board of Administration (SBA) is a constitutional entity of Florida state government that provides a variety of investment services to various governmental entities. Created by the Florida Legislature in 1929 (Chapter 14486, Laws of Florida; amended to the 1885 Constitution as Article IV, Section 16, 1942, Senate Joint Resolution 324, 1941; continued under Article XII, Section 9, 1968 Constitution and Ch. 69-106, Laws), its members are the Governor, the Chief Financial Officer, and the Attorney General. The Board's statutory mandate is to invest, manage and safeguard assets of the Florida Retirement System (FRS) and its 25 trust funds and pension plans used for a number of investment services. In addition, the SBA provides administrative services to the Florida Prepaid College Board and the Division of Bond Finance. The Florida Legislature created the Hurricane Catastrophe Fund (FHCF) in November 1993 during a special session after Hurricane Andrew (Chapter 93-409, codified as Section 215.555, Florida Statutes). The FHCF is a tax-exempt state trust fund under the direction of the State Board of Administration. The purpose of the FHCF is to protect and advance the state's interest in maintaining insurance capacity in Florida by providing reimbursements to insurers for a portion of their catastrophic hurricane losses. Each residential property insurer is required to enter into a contract with the State of Florida to pay premiums to the FHCF in order to receive reimbursement from the Fund. A nine member advisory council provides the SBA with information and advice.
	Summary:	This series consists primarily of transcripts of meetings of the Florida Hurricane Catastrophe Fund Advisory Council documenting issues discussed and decisions made by the Council. Discussions covered such topics as Fund investment status, performance, and strategies; financial status of insurance companies and conditions in the commercial insurance market; claims reporting and reimbursement processes; rating formulas for various levels and types of events; considerations relating to the possibility of expanding the Fund to cover terrorism; building code requirements and enforcement; damage prevention measures; proposed legislation; and administrative rules for operation of the Fund. 1994 and 1995 files also include background information materials provided at the meetings.
	Finding Aids:	Box listing available. 0
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	Subject Access Fields:	Hurricanes Florida Insurance, Property Florida Insurance Florida Disaster relief Florida Emergency management Florida Emergency preparedness. Minutes. aat
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