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Insurers did not see a slowdown in rate but some are still fine-tuning their portfolios following the LA fires. -
Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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The industry veteran has been in personal lines HNW for more than four decades.
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When it comes to sympathetic juries, high net worth individuals are under the same pressure as corporations.
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The January wildfires did little to hamper their appetite, apart from California.
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The transition will be implemented starting October 15.
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The executive has been with the firm for close to 15 years.
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Wildfires resulted in heavy losses for insurers focused on HNW, personal lines and reinsurance.
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The LA wildfires, however, will be the firm’s largest event to date.
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Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.
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