Homeowners' insurance
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Admitted carriers on the other hand are still exercising caution as regulatory reforms take hold. -
Plaintiffs claim climate-induced cat losses have spurred increases in premiums.
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The carrier said it anticipates a better market due to recent reforms.
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The peril has been historically difficult to model compared to others.
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Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Similar bills targeting fossil fuel firms have been introduced in other states.
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The MGA is exploring new product lines including condos and renters, CEO John Chu said.
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Senators asked for data on fraud but weren’t given any.
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The deal to reopen the government also extended the NFIP.
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Chief risk officer Shannon Lucas will move to COO as part of the shakeup.
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The company anticipates a considerable bump in book value after IPO of subsidiary Exzeo.
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The executive said inflation isn’t completely gone but is now “more understood”.
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Slide does expect a “meaningful” amount of takeouts for this month and next.
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The insurer reached highs of over 1.4 million policies in September 2023.
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The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.
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Exposure for California’s Fair plan has jumped, as insurers drop policyholders.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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The regulations are designed to address long-term solvency concerns.
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The LA fires were a microcosm of “everything we do well when things go bad”.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The bill includes provisions to encourage retrofitting homes in high-risk areas.
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The company sees itself in a “very strong position” in the state.
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A former NOAA climatologist who left the agency is running the new operation.
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A quiet wind season is also expected to further soften the property market.
