Hurricane

The deal would be the US agency’s second.

The overwhelming majority of claims have come out of Bay County, the Florida Office of Insurance Regulation said.

From October 2020 the new system will match pricing to flood risk for individual homes.

Some reinsurers are saying their views of Florida risk have changed post-Irma.

Data on ILS returns from Mercer ranks the industry’s 2018 performance as the second-worst after 2017, and only just better than that of 2011.

Warm winter sun might have helped Miami’s case for bringing ILS folks to the city for one of its annual conferences a couple of weeks ago.

The impact of Hurricane Irma loss creep is coming to the fore ahead of the June renewals.

Q4 loss creep from Hurricane Irma averaged 25 percent amongst the state’s five listed insurers.

The storm, which raced across Germany yesterday, had wind speeds of more than 100km/h.

The reinsurance industry spends a lot of time obsessing about risk modelling, but arguably its efforts to pin down ever more precise estimates of expected losses are let down by a 20th century approach to data handling.

The insurer kept its participation in the state reinsurance scheme stable at 45 percent.

Heritage, UPC and Florida Peninsula are among the major carriers to request more cover from the state reinsurance scheme.