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A quick roundup of our best journalism for the week. -
Sources said that the MGA has been working with investment bank Waller Helms to find a potential investor.
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Sources said California regulators need to show they’re receptive to private insurer needs.
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The ratings agency has revised Mercury’s outlook from stable to negative.
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The insurer is seeking a 22% interim raise, but the request is currently on hold.
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The estimate is net of its per-occurrence reinsurance program and gross of tax.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
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Commissioner Lara calls the 10 bills a ‘comprehensive legislative package.’
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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The insurance commissioner said the carrier has not shown the need for price increases.
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More than 33,000 claims had been filed as of 5 February.
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The losses do not change the near-term assessment of CinFin’s balance sheet strength.
