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EMC and Church Mutual turn back to reinsurers after devastating wind losses. -
Structures damaged or destroyed include the Meadowood Napa Valley resort and Medieval-style winery Castello di Amorosa.
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The Glass Fire has destroyed the Chateau Boswell winery to the north of St Helena, California, CNN reported.
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All three fires are prompting evacuation orders in Napa and Sonoma counties.
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Total insured losses are well up on 2019, but the severity of individual blazes is not likely to impact reinsurers extensively.
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Climate variations will likely spur demand for ILS capital to help reinsurers manage peak US hurricane exposure, the manager said.
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The National Flood Insurance Program is expected to take $400mn-$800mn of losses.
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The company has upgraded its ImpactWorkbench tool to support Open Exposure Data.
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The utility will draw down $843mn of its own insurance to help meet settlement costs related to the Thomas and Koenigstein fires, and the 2018 Montecito mudslides.
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In June, the company renewed its reinsurance program, holding the program’s retention for Florida events steady at $43mn.
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The carrier had topped up its cover earlier this month after Laura triggered recoveries.
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Rain and storm warnings are in effect for the provincial capital city of Halifax.
