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Cove Street is 14th largest investor in Global Indemnity. -
Concerns around casualty rate adequacy are growing, the executive said.
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The carrier stopped accepting new HO business in the state last May.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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A more business-friendly approach will be offset by increased uncertainty.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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Sources said that the E&S carriers are now poised to enter due diligence.
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Sure is the first Demotech-rated insurer to offer surplus lines homeowners.
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Retentions and coverage could be affected by future adverse claims trends.
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Dowling Partners is advising the company.
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Given ample capacity and no sharp increase in demand, a market sea change is not expected, barring an unforeseen economic event.
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