Does Florida already have a hurricane catastrophe fund?
Yes. Florida has run one for more than thirty years. Today it bails out insurance companies. David Jolly's plan points it at Floridians.
Yes. The Florida Hurricane Catastrophe Fund was created in November 1993, in a special legislative session after Hurricane Andrew, to keep insurance available in Florida by reimbursing insurers for a portion of their catastrophic hurricane losses. It has been run and expanded by Republican legislatures for three decades. What it does not do is cover homeowners directly: it is a backstop for insurance companies. David Jolly's plan takes a structure Florida has already proven and uses it to carry hurricane risk for Florida homes, so private premiums can fall 60 to 70 percent.
The fund Florida already runs
After Hurricane Andrew in 1992, private insurers fled the state and the Legislature met in special session. In November 1993 it created the Florida Hurricane Catastrophe Fund, run by the State Board of Administration, "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."
That is the fund's own description of its purpose. It pays insurance companies. It does not write a policy for a family, and it does not lower a family's bill directly. Every Florida Legislature since, including thirty years of Republican majorities, has kept it, funded it and relied on it.
What the plan changes
The plan does not invent the idea of a state-backed hurricane fund. Florida proved that idea works. What the plan changes is who the fund is for.
Today the state's catastrophe fund reimburses insurers, and insurers still price the full hurricane risk into every homeowner's policy. Under the plan, one strong, state-backed fund carries hurricane and wind risk for Florida homes directly, so that risk comes off private policies. The fund is built to a financially sound level and reinsured for catastrophic storms before it covers anyone, and it is paid for by insurers and other sources rather than homeowners. The plan, step by step.
Frequently asked questions
Q. When was the Florida Hurricane Catastrophe Fund created?
In November 1993, during a special legislative session called after Hurricane Andrew.
Q. What does the existing fund do?
It reimburses insurance companies for a portion of their catastrophic hurricane losses, to keep insurance capacity in the state. It does not cover homeowners directly.
Q. How is David Jolly's plan different?
It uses a state-backed fund to carry hurricane and wind risk for homes directly, so private insurers no longer price that risk into policies. The existing fund backstops insurers; the plan's fund is for Floridians.
Q. Is the plan a government takeover of insurance?
No. Private insurers keep writing homeowners policies and compete on everything but hurricane risk, which the state fund carries. Florida has run a state hurricane fund since 1993.
Where this comes from
The Florida Hurricane Catastrophe Fund's creation and purpose are quoted from the State Board of Administration, which administers it. The plan's design is from the Jolly campaign's published proposal and its September 2026 statement.
This page was last reviewed on September 15, 2026 and is re-verified as the story develops.