A move to firm up the states ability to respond to a hurricane on the eve of the storm season could mean a slight uptick in the average property insurance premium.
The Florida Hurricane Catastrophe Fund advisory council on Thursday recommended that at least $1.7 billion be added to the potential reserves, while researching market conditions to determine if more could be acquired.
The fund currently has about $8.6 billion considered on-hand to help Floridians after a storm, and can pursue through bonds to increase that to $17.3 billion following a disaster.