A Florida state panel has approved the use of a new hurricane catastrophe model that is increasing many insurers’ exposure. The Florida Commission on Hurricane Loss Projection Methodology has approved the Risk Management Solutions new U.S. Hurricane Model version 11.0 …
Alabama homeowners insured by the state’s property insurer of last resort are paying less after the insurer implemented its first rate decrease in three years. The Alabama Insurance Underwriting Association last month called for an average 6.2 percent rate cut, …
The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes, as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile renewal season, according to reinsurance specialist …
