Idalia loss underscores reason for reinsurer retreat from low layer cat
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Idalia loss underscores reason for reinsurer retreat from low layer cat

Steinhatchee, Florida, USA. 30th Aug, 2023. Boats float among a series of floating docks on the Steinhatchee River on Wednesday, Aug 30, 2023, as Hurricane Idalia moves through Florida's west coast at Taylor County in the Big Bend area. (Credit Image: © D

Hurricane Idalia is still live, but the storm’s track reassured market participants that it will be a relatively minor loss.

What we know so far suggests that for the London market and reinsurers, the storm will be another minor irritant which vindicates the changes these players have made to control binders’ exposure closely and minimise attritional cat risk taking,...

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