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Storms from 16-23 June added to a “very active” quarter for the peril. -
The insurer reclassified some Hurricane Ida claims as storm Nicholas losses, producing an overweight loss for the second event.
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Investors, fund managers and service providers are adapting in the face of potential large losses from secondary perils.
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The parametric product will pay out based on a hurricane’s proximity to the insured.
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The deadline for Lighthouse Excalibur policy cancellations has been extended to 30 June.
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The cancellations contribute to a total of around 100,000 affected homeowners in the state.
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The US P&C carrier is putting more premium through its captive.
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Despite capital infusions into the firm, the Florida insurer was unable to stave off receivership.
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The carrier’s below-FHCF layer is 29% unplaced.
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The losses were caused by 14 events, most notably wind and hail in Texas, the Midwest and Canada.
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The decade from 2010 ran the full gamut of catastrophe loss experience, reminding us that there is no such thing as a "new normal" in the world of ILS.
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The east coast of the country was struck by severe rainstorms earlier in the year.
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