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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate. -
Milton’s significant but less-than-expected hit shifts our expectations for industry recovery.
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Florida insurers averted a crisis, but reinsurers will still see damages.
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Florida concentrated property insurers are expected to face capital struggles.
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American Integrity will take the largest chunk, out of six insurers total.
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The storm is projected to make landfall in the next 24 hours in the highly populated Tampa Bay region.
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Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
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Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge.
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Moody’s also predicts losses to the NFIP at potentially more than $2bn.
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The government flood insurance program now carries $21bn in debt.
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October 17 has been set as the deadline for written comment.
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The figure does not include NFIP losses.
