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CAT fund |
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CAT fund Catastrophic liability fund Malpractice A professional liability fund that exists in some states–eg Pennsylvania, into which physicians and hospitals pay for malpractice insurance How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The cat fund will pay Berkshire from its reserves of about $6. It required insurers to file rates that reflected their savings from the additional Cat Fund coverage, and it also required filings to include a statement under oath from the insurer's chief actuary and CEO or CFO to the effect that the filing reflected all premium savings that are expected to result from legislative enactments. Lawmakers in January changed state law to have the CAT fund pick up more risk, lessening the exposure of private insurance companies in an effort to lower the premiums homeowners pay for their wind damage coverage. |
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