The Real Deal Miami

Catastrophe fund could see uptick

April 15, 2009 01:48PM

The Florida Hurricane Catastrophe Fund may get a boost from the improving credit markets. Ash Williams, executive director of the State Board of Administration, told state officials that better market conditions mean it could sell as much as $8 billion in bonds, a vast improvement from the $3 billion estimate the state was floating in March. Williams said that puts the fund in a better position if a major storm causes extensive property damage.