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The limit on the reinsurance Citizens will look to buy from the private markets will stretch to $14.35bn, up 2% on prior-year coverage.
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November premiums were up for all three of the top E&S states, with Florida posting the largest percentage increase at 21.8% YoY.
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The Senate Budget Committee, chaired by Democratic Senator Sheldon Whitehouse, is seeking information on plans to address increased underwriting losses from extreme weather events.
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A quick roundup of this week’s biggest stories.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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Cedeño Camacho will expand his insurance carrier holdings to North America.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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The office also said it has approved the assumption of 650,399 policies from Florida Citizens so far this year, a more than 800% increase from the previous year.
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The Floridian was approved for 75,000 policies, made 72,958 offers and assumed 53,750 policies – a 74% acceptance rate.
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The rating reflects Orange's low underwriting leverage and significant surplus relative to projected premiums written
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The bill would spur development of a crop insurance policy to cover losses caused by cold exposure and freezes.
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The Inside P&C news team runs you through the earnings results for the day.