FRPCJUAFlorida Residential Property and Casualty Joint Underwriting Association
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Provisions of the agreement include Clarendon offering homeowners a 3 percent discount and mobile-home owners a 5 percent discount at the time of renewal; a takeout bonus for Clarendon of $300 per policy; higher than what previous insurers have received, but lower than the amount the company requested; and a contingency reserve of $210 per policy set aside by the FRPCJUA.
Also affecting the FRPCJUA, is a bill approved by the Legislature that would place an $11 billion cap on the Florida Hurricane Catastrophe Fund.
Briefly, the Residential Property Casualty Joint Underwriting Association (FRPCJUA) in 1993 was created to offer policies for the customers left without coverage from the private market.