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Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss. -
The total includes fire and smoke damage plus living expenses for evacuees.
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The fire started Wednesday morning and is currently 0% contained.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Losses from the larger fire will amount to $20bn-$25bn, the modeler said.
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The executives will report to Jenise Klein, CUO for North America.
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Loss-cost indicators are high for liability, low for property.
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Severe convective storms accounted for 41% of last year’s insured loss load.
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The estimate has reduced slightly since the modeler’s last update in October.
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Rate increases averaged 0.0% in December 2024, from 16.3% in December 2023.
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Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.
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Rates are now falling, but submissions are still rising, according to wholesale brokers.
