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The carrier strengthened its GL reserves by $130mn in Q4. -
Included are tweaks to state premises liability law and reforms to trial procedure.
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Commissioner Lara said 31,000 claims have been filed for disaster-related needs.
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The NFIP and NOAA were both targets in the Project 2025 crosshairs.
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The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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Legal experts say the bill, SB 222, stands a good chance of becoming law.
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The carrier is restructuring the business into three segments.
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The company received over 10,100 home and auto claims as of January 27.
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The bill would put new restrictions on bad faith claims, close loopholes.
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The homeowners’ carrier has secured Floir approval.
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Loss estimates for the disaster from the likes of KCC, Verisk and Moody’s RMS now range between $28bn and $40bn.
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Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss.
