Homeowners' insurance
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The company said Helene claims have surpassed those of Hurricane Ian. -
The renewal book has auto, home, renters and condo policies, among others.
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A total of $2.1bn in Fema money has been approved for the state.
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Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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The NFIP can take on more debt, but climate-fueled disasters aren’t going anywhere.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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The policies assumed represent $200mn of in-force premium.
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The firm still expects to deliver positive net income for Q3 2024.
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In an interview with this publication, Lara said "everything’s on the table" for future reforms.
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The catastrophe loss estimate for September totalled $889mn, pre-tax.
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Hurricane Helene was blamed for $92mn of those losses.
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A bill in Congress would expand a similar pilot tried earlier in New York City.
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