BRADENTON, Fla. - The ongoing credit crisis may prevent the high-profile Florida Hurricane Catastrophe Fund from selling enough tax-exempt bonds to pay all the claims it has promised in the form of reinsurance to the state's private property and casualty insurers.

The so-called Cat Fund's estimated reinsurance capacity is $13.28 billion in the next 12 months - approximately $13 billion less than what the typical capacity might be - because of current unfavorable bond market conditions and increased interest rates, the fund's advisory board learned Tuesday.

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