Property

Inside P&C’s morning summary of the key stories to get you up to speed fast.

April 1 reinsurance treaty renewals saw increased retentions and rates that were up on average of 7.5% to 12.5%, the wholesaler reported.

The proposal is at the upper end of previous proposals put to the insurer’s board.

The NICB has estimated that fraud adds 5%-10% to the total claims paid following a disaster.

The carrier has also promoted Srdjan Todorovic to lead its global political violence operation.

A string of Florida carriers have had their financial stability ratings downgraded by Demotech in recent weeks.

The state Governor’s goal is ‘to have a functioning market’ for property insurance in Florida.

Discussions around rates remained amicable despite years of compound rises.

The move is part of the process that allows the Louisiana Insurance Guaranty Association (LIGA) to take over claim payments, ensuring most policyholders with pending hurricane claims will get paid.

Based in Boston, the executive will report to Michael Garrison, head of Navigators wholesale.

Mark Herget joined Fidelis in April 2020 as an underwriter before being transferred to its Bermudan operation in November of the same year.

Inside P&C’s morning summary of the key stories to get you up to speed fast.