Florida's personal and commercial residential market is dominated by regional and Florida specialist insurers, many of whom make extensive use of ILS reinsurance
Nephila, Everest Re and RenaissanceRe were among the leading reinsurers of some of the top Florida insurers last year, according to data collated by Trading Risk
Reinsurers will pick up the brunt of any Florida hit from Hurricane Irma, a powerful category 5 hurricane currently approaching Caribbean islands, including the Virgin Islands and Puerto Rico.
The track of Hurricane Irma and its strength will be critical in determining how many losses could flow to the insurance market, as modelled loss projections for Category 5 storms affecting Florida vary widely
