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The 12 insurers together have $418mn in policyholder surplus. -
The prediction comes after a highly active hurricane season in 2024.
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Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
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The carrier has received 12,300 claims as of 28 March.
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Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
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The March 13-16 storms would mark the first billion-dollar US SCS event of the year.
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The insurance industry has experienced mounting losses from severe convective storms.
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The agency collects gold standard data and conducts research. Without that, there’s more uncertainty.
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A quick roundup of our best journalism for the week.
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The Democratic senator said increased federal oversight of insurance is not the answer.
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Kathleen Reardon, CEO of Hiscox Re & ILS, also talked about the impact of the California wildfires and why it’s important for cedants to work with a reinsurer with strong underwriting and modelling skills when disaster strikes.
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The MGA recently secured capacity to write HNW homes in California.
