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The wildfire started Wednesday and is 0% contained so far. -
Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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Industry campaign cash favors Republicans, except when it comes to the presidential election.
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Republican tariffs and higher Democratic corporate taxes would hurt the sector.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The insurer has been focused on growing products with lower cat exposure such as pet and renter’s insurance.
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The NFIP can take on more debt, but climate-fueled disasters aren’t going anywhere.
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The stock was hovering around $40 per share just before closing.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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The policies assumed represent $200mn of in-force premium.
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The firm still expects to deliver positive net income for Q3 2024.
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In an interview with this publication, Lara said "everything’s on the table" for future reforms.
