Property
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The property reinsurance market may be fast approaching a true ‘hard’ market, the broker said. -
The state-backed carrier has seen massive growth in the distressed Florida market.
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For most policy forms, all roof types must be 15 years or newer to write new business in certain counties.
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Carriers can use the tool to cross reference flood imaging with their own property portfolios.
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Succeeding years of nat-cat losses have left aggregate and lower-layer capacity tighter.
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Louisiana appeals court decision that allows property damage claim for Covid shutdowns is contrary to every other appellate ruling on the issue.
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The scope of McCann’s new role spans across various property segments, including retrocession.
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In a 3-2 split decision issued last week, Louisiana’s Fourth Circuit Court of Appeal ruled that the policy language is “ambiguous”.
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The insurer reclassified some Hurricane Ida claims as storm Nicholas losses, producing an overweight loss for the second event.
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The addition of Japan increases the number of territories covered by Perils to 21.
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The parametric product will pay out based on a hurricane’s proximity to the insured.
