One of Florida's state-run property insurers will explore using a combination of bonds and private reinsurance to cut costs and support financing needs for this year's and future hurricane seasons.

The Florida Hurricane Catastrophe Fund says it needs about $2.2 billion to shore up its liquidity needs and will examine using taxable municipal bonds or — for the first time ever — transferring a portion of its risk via reinsurance from the private sector, or use a combination of both.

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