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The program includes all perils coverage and third-event protection. -
The company plans to reduce its quota share to 20% from 40%.
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The carrier has completed its 2024-25 reinsurance renewal.
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The coverage will be indemnity, annual aggregate for Florida named storm.
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Eleven hurricanes are predicted, with five expected to reach Category 3 or higher.
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FHCF rates are also projected to decrease by a statewide average of 7.38%.
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The bond offers named storm coverage in Florida.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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The carrier is seeking named storm coverage in the state of Texas.
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The closing of the Interboro sell-off was postponed to nearer the end of the year.
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The increase in limit reflects the carrier’s growing exposure.
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The state-backed fund had been advised to increase its allocation of ILS to 1%.
