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Statement by CFO Sink on the Senate Banking & Insurance Committee’s Passage of Cat Fund Proposal


Tara Klimek or Kevin Cate
(850) 413-2842   
TALLAHASSEE— Florida Chief Financial Officer Alex Sink today applauded the Florida Senate Banking & Insurance Committee for unanimously passing Senate Bill 2156 by State Senator Bill Posey (R-Rockledge), which reduces the amount of exposure Florida’s consumers have to hurricanes.
“I thank Senator Posey and his Senate colleagues for their leadership and support of this bipartisan proposal to reduce the risk of hurricane assessments on Floridians and businesses,” said CFO Alex Sink.  “With their support, we are eliminating the risk of $5.5 billion in hurricane assessments if we have a bad storm this year.”
The companion bill is HB 7021, sponsored by State Representative Ron Reagan (R-Sarasota/Bradenton).
As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink  oversees the Department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. CFO Sink also serves as the State Fire Marshal.