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Inside P&C’s news team runs you through the key highlights of the week. -
For insurers, the Golden State is one of the last places they want to face disputes or lawsuits with consumers.
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More than half of the top 20 global reinsurers maintained or reduced their natural catastrophe exposures during the January 2023 renewals.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The estimate is based on the impact to approximately 200 structures where RLI provided primarily homeowners’ insurance.
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The MGU has secured up to $10mn follow-form capacity on a non-admitted basis to cover general liability on complex construction projects in the US.
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The nod follows that of Mainsail Insurance Company, owned by Hippo subsidiary Spinnaker, in August and HCI-owned Tailrow Insurance Company in April.
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The agency put insured property values in the burn footprint at $2.5bn to $4bn, which marks an uptick compared to Moody’s estimate from last week, when the agency pegged insured losses at around $1bn.
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Rate declines have not been as pronounced in private D&O, though competition is increasing.
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Effective August 24, Kristen Hunter will start as head of inland marine – North America at Axis, bringing a team of three with her from Berkshire Hathaway.
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