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California earthquake carrier is giving policy holders $3,000 to strengthen their homes.
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The carrier is expecting claims to more than double from the year-ago period.
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The modelling agency’s estimate factors in privately insured wind and storm surge losses from property and automobile claims.
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Total economic losses are not expected to surpass $1.5bn, the broker outlined in its latest monthly catastrophe update.
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The personal lines giant has reined in its loss estimate for Camp Fire as other cedants show creep. -
Assurant is targeting less volatile earnings after amending its reinsurance programme.
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Specialty property carrier Palomar Holdings’ excess of loss reinsurance programme will remain unscathed by losses from the recent earthquakes.
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The California Earthquake Authority has around 2,000 policyholders in the area hit by the 6.4-magnitude quake.
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Improvement in underwriting profitability in 2019 will be followed by “modest deterioration” over the next four years, according to a new report.
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The Californian utility has agreed the settlement with 18 public entities following a series of wildfires from 2015 to 2018.
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The reinsurer has secured $60mn of protection against named storms and earthquakes in the US from the capital markets.
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Despite early hopes of sizeable rate rises, reinsurers are frustrated that many accounts will renew with as-before terms.
