FRPCJUA - What does FRPCJUA stand for? The Free Dictionary
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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.