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The insurance industry has experienced mounting losses from severe convective storms. -
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She replaces Matt Westhoff, who left in October to lead QBE NA.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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The Democratic senator said increased federal oversight of insurance is not the answer.
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Kathleen Reardon, CEO of Hiscox Re & ILS, also talked about the impact of the California wildfires and why it’s important for cedants to work with a reinsurer with strong underwriting and modelling skills when disaster strikes.
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CEO Greenberg cited ‘competing priorities’ in his annual letter to shareholders.
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The MGA recently secured capacity to write HNW homes in California.
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The carrier was seeking to expand its March 1-renewing program.
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While significant, the fires are expected to be an earnings rather than a capital event for the industry, John Huff, CEO of the Association of Bermuda Insurers & Reinsurers, said.
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A rebound is expected this year, however, led by strong US activity.
