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Georgia, Virginia and the Carolinas have declared a state of emergency as the storm moves north. -
The storm’s likely quantum is still highly contested, but all scenarios are challenging for Florida homeowners and cat treaty writers.
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The state’s property carriers are closely watching the progress of Hurricane Ian.
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The storm has sped up considerably over the past six hours.
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A landfall at Category 3 or 4 along the west coast of Florida later this week would be one of the more damaging scenarios for Ian.
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The National Hurricane Center forecasts ‘considerable flooding’ in Florida later this week.
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This would become an event of default under the company's outstanding $100mn senior unsecured notes due 2029 and $21mn convertible notes due 2026 if not discharged within 60 days.
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The executive joins from Getsafe and has experience at Zego.
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Many storm losses would be the result of flood, which is not covered by the standard homeowners’ policy.
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The storm is currently at Cat 4 strength but will weaken to Cat 3 as it approaches land.
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Florida specialists have continued to cede more premium to reinsurers, topping $7bn in 2021.
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The casualty ILS platform is building out its team following a Series B fundraise.
