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Much was learned after the fires, but it could take years before that data influences models. -
The research team presents the May cat heatmap.
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It didn’t have a major impact on insurers’ finances – instead, it served as a wake-up call.
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The regulatory body is also looking at AI rulemaking and catastrophe resiliency.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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Florida regulators have also approved takeouts for Mangrove and Slide.
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This is up from last year’s $1bn protection for its Florida treaty.
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An active hurricane season threatens to weigh on hard-fought capital and underwriting margins.
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Van Bakel said that AI can help triage thousands of disaster claims.
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The number has expanded by around 40% from an earlier update, sources said.
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Estimates on what a cat five in downtown Miami could cost vary, but it would be painful for reinsurers.
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The modeller said the insurance market could be exposed to unexpected aggregations.
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