Homeowners' insurance
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There are now over 1 million homes in fire-hit areas protected against non-renewal.
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The executive joins the recently-acquired high net worth business at its headquarters in New York.
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More than a dozen stopgap measures have been enacted since funding for the scheme expired in 2017. -
All policies underwritten by the carrier will be cancelled from the beginning of November.
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Headline rate changes at lows not seen since 2007/8, in line with Q2:19 management commentary pointing to growth initiatives, and peak margins at leading firms.
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A state report said non-renewals were down 10 percent in some high-risk areas.
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The carrier's core earnings rose by 17.7 percent year over year to $1.33 per share in Q2 2019.
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The carrier was hit by increased losses and deteriorating reserves.
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Donegal's CFO Miller said the carrier had not recorded a meaningful increase in claims over the period.
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The renewal reflects significant repricing for the quota share following several cat losses in the period.
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The NFIP will bear the brunt of losses from Hurricane Barry, according to industry analysts.
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Citizens' is considering a revised 4.7 percent rate increase in 2019 for personal lines policyholders.
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