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NFIP claims are expected to make up about $100mn of the claims tally. -
The judges will now consider their verdicts, with an ambition to produce a draft judgement in mid-September.
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The insurer said it has substantial reinsurance cover available although none have been drawn on yet.
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Puerto Rico, the US and British Virgin Islands and other territories are under storm warning.
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An unspecified superior court will hear the ICA-funded case, with the outcomes used by the Australian financial ombudsman.
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CEO Kevin O'Donnell also noted that RenRe had dropped one-third of its Florida clients.
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The reinsurer did not provide an updated Covid-19 loss estimate.
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Parent Lancashire fell to an underwriting loss for the first half after lifting its Covid-19 loss estimate to $42mn.
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The estimate includes privately insured wind and storm surge damage to homes, commercial properties and cars, but not NFIP losses.
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The (re)insurance supervisor calls for “skin in the game” from all risk owners to reduce the risk of moral hazard arising from any state backstop.
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The storm remained offshore but lashed Kauai with rain.
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Rainfall in some areas could lead to flooding and landslides.
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