Florida Optional Reinsurance Assistance Program



Florida Optional Reinsurance Assistance Program


pp. 6–15; §215.5552, F.S.

Establishes the Florida Optional Reinsurance Assistance (FORA) Program for the 2023 hurricane season, which:

  • Creates an optional hurricane reinsurance program that insurers can purchase at reasonable rates. Rates vary by tier level purchased and will range from 50 percent to 65 percent rate online.

  • Provides purchase tiers that begin at the Florida Hurricane Catastrophe Fund (FHCF) attachment point and cumulatively are limited to no more than $5 billion below the FHCF attachment point.

  • Allows insurers that purchase FORA coverage or that receive free Reinsurance to Assist Policyholders (RAP) coverage at each tier to have the option to purchase the next tier down.

  • Maintains the RAP program (established May 2022), thus allowing those insurers and their policyholders that could not participate during 2022–2023 to receive and benefit from RAP reinsurance in 2023–2024.

  • Funds FORA coverage with $1 billion in general revenue funds and the premiums insurers pay for FORA coverage.

Earlier this year, Florida's Legislature enacted the RAP program; it provides $2 billion in coverage just below the FHCF retention point. Participation in the RAP program was required for participating insurers. The RAP program does not require participating insurers to pay resulting premiums; however, participating insurers are required to incorporate any cost savings into their rate filings.


Effective date: December 16, 2022, except as otherwise expressly provided.

Chapter No. 2022-271, LOF

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