Reinsurance Protection
As Floridians ourselves, Security First Insurance knows what it's like to live through yearly hurricane seasons and we understand the importance of making sure your home is insured by a company that will be there for you after the storm. The chart below shows the magnitude of the reinsurance protection we provide our customers and compares recent hurricanes to the cost Security First would incur if those storms were to hit Florida, today. Think of reinsurance as insurance for insurance companies.
Florida regulators suggest insurance companies to purchase reinsurance for one 100-year event and two 20-year events. A 100-year event/return period is a catastrophic event so big that it has only a 1% (1/100) chance of occurring in a single year. A 20-year event has a 5% (1/20) chance of occurring and so on. Many private insurers purchase only the minimum amount suggested. Security First Insurance purchases reinsurance up to the 100-year event and for four 20-year events.
