Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will represent a substantial near-term earnings …
Although the role of catastrophe reinsurance in a wind exposed region is intuitively obvious to an insurance professional and most insurer rating agencies, the need for transparency, education and open dialogue on this important topic is necessary. Consumers, members of …
Florida property insurers are well-capitalized and able to handle a 1-in-100 year storm event if and when it occurs in the state, according to the Florida Office of Insurance’s 2015 Data Call and subsequent stress test report. The annual Reinsurance …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, is expanding its reinsurance and analytical capabilities in the state of Florida. Beginning January 2016, Aon Benfield will increase the number of reinsurance broking and analytics colleagues based …
After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that the price declines are averaging in the high single …
Living in a (semi)-tropical paradise has a price – and apparently, not even going nine years without a major hurricane strike will change that. While Florida’s property insurance market has stabilized somewhat since eight storms battered the state in 2004 …
Florida is ending this year’s storm season with some good news. The state-created fund that backs up private insurers in Florida remains in the best financial shape it has been since it was created 20 years ago. New estimates drawn …
Florida’s insurance regulator, in response to questions why lower reinsurance costs have not translated into reduced homeowners rates, said insurers have significant leeway in how they incorporate those costs into rates and any changes can take a significant amount of …
Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial Officer Jeff Atwater in a letter this week to Insurance Commissioner …
Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by billions due to concerns that one major storm could exhaust its resources and leave insurers without further coverage. The Florida …
