US Southeast/Gulf
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The legislature did pass Twia reforms, however. -
Most of the losses are attributable to a supercell storm in Texas.
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One measure could give regulators greater leeway to deny rate requests.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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The reforms limit liability for some small businesses in the state.
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Insurers haven’t announced concrete steps – yet.
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The law imposes limits on third-party litigation funding, among other changes.
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The insurer has lined up Piper Sandler and KBW to run the process.
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ShoreOne is offering an all-in-one policy that includes flood protection.
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The regulatory changes have been championed by Governor Brian Kemp.
Related
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December 16, 2024