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It is among the first bills to pass the House during Donald Trump’s presidency. -
After a period of re-assessing risk appetite, underwriters were signalling growth again – that was, before the fires.
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The total includes fire and smoke damage plus living expenses for evacuees.
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The fire started Wednesday morning and is currently 0% contained.
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Cat activity was a “modest” $175mn for Q4, but still up year over year.
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Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
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The carrier can claim separately for the Palisades and Eaton fires if necessary.
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The carrier has received more than 3,600 claims from LA wildfires.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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The homeowners’ MGA CEO said the wildfires could spur a re-evaluation of models.
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The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
