CAT fund

Catastrophic Liability Fund. A professional liability fund that exists in some states—e.g., Pennsylvania—into which physicians and hospitals pay for malpractice insurance

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
References in periodicals archive ?
The injection of funding to improve the ACTs response to family and domestic violence through both the budget and the CAT Fund shows the commitment of the Government to take action and reflects community concern about this type of abuse, Mr Corbell said.
Kuegler and Mark Kaplan, CEO of startup incubator and co-working space, Alpha Loft, will run the Blue Cat Fund and future funds.
The money is there and it's in our pocket," Jack Nicholson, CEO of the Cat Fund, told the Florida Times-Union.
The deal will allow the Florida Cat Fund to reach its state-mandated ceiling of $7 billion to cover all storm claims in a single season.
Third Point CEO John Berger said, "While our existing cat fund has delivered very attractive returns to investors since its inception in January 2012, we are mindful of the increasingly difficult conditions in the catastrophe reinsurance market in the near term and the increasing value of a broad underwriting platform.
Blending the Florida Hurricane Cat Fund and Traditional Reinsurance
This tax issue has hung like a shroud over the entire CAT fund debate for years.
Further down the coast in Florida, an under funded cat fund is the "800pound gorilla" lurking behind all of the state's insurance issues, including State Farm's recent announcement that it's pulling out of the Florida property market, said Jeff Grady, president and CEO of the Florida Assn.
The notion of a federal nat cat fund has long been debated--especially after the 2005 hurricane season, when Hurricanes Katrina, Rita, Wilma and Dennis caused over $56 billion in privately insured losses, $16 billion in National Flood Insurance Program (NFIP) claims and another $44 billion in uninsured losses.
Awards lie these deplete the CAT fund and increase the amount all physicians in the state--regardless of specialty--must pay into it annually.
The CAT fund was unprediscuss the videotape as scheduled, however, because its representatives had failed to view it before the conference.
Across all five fund sectors - balanced managed, Europe ex-UK, UK all companies, UK equity income and UK general bonds - the average return from a CAT fund (on an offer to bid basis) is more than eight per cent.