FedNat expects fees to offset net claims impact from Ida as reinsurers set to pick up losses
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

FedNat expects fees to offset net claims impact from Ida as reinsurers set to pick up losses

Eli Rallo
01 September 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
FedNat Insurance logo Fort Lauderdale Florida.jpg

Florida-based carrier FedNat said on Wednesday it is too soon to estimate gross losses from Hurricane Ida, but it expects total claims values to exceed the combined $18.3mn retention across its two reinsurance programmes.

However, factoring in fees the company says it will earn in its claims adjusting subsidiaries from managing Ida claims, FedNat anticipates the net overall financial impact will be “significantly less” than the reinsurance retention.

FedNat

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Login now

Topics

NewsFloridaFedNat
ER
Eli Rallo
Gift this article