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Florida fantasies

Dear friend,

They've got some great journalists down in Florida.

The Cat fund is a difficult subject to get your head around - let alone explain to the man in the street.

So this article is particularly commendable

Killer fact: If the 2004 storm season happened all over again this year it would burden the state of Florida's Fund with (at least) $11bn in losses.

- and how much has it got in the bond fund? A paltry $1.35bn.

Why is it so hard to explain that in life you always get what you pay for?

I suppose we get the leaders we deserve...

Comments (1)


You should check out the recent news from Florida - the Cat Fund just booked about $600 million of unfavorable reserve development from 2004 and 2005, so they need to float another bond to help pay the claims.

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