The Florida Cat Fund provides reinsurance coverage to property insurers, helping them manage catastrophic losses.
Hurricane Ian caused nearly $10 billion in losses to the Cat Fund, depleting its reserves.
A Moody's report warns that another Ian-sized storm could wipe out the Cat Fund's remaining reserves.
A depleted Cat Fund could lead to increased insurance premiums, reliance on debt, and reduced reinsurance options.
Cat Fund officials claim the fund is in a good position to handle a major storm.
Experts offer differing opinions on the Cat Fund's financial health and ability to withstand a major hurricane.
Citizens Property Insurance, Florida's insurer of last resort, is better prepared to handle a major storm due to recent changes.
Encourage readers to stay informed about hurricane forecasts and prepare for potential storms.