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It is among the first bills to pass the House during Donald Trump’s presidency. -
The industry loss number has increased threefold from an initial $5bn pick.
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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 executive will replace retiree Michael Miller.
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The fire started Wednesday morning and is currently 0% contained.
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He was appointed acting CEO earlier this month, after Andrade’s departure.
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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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Severe convective storms accounted for 41% of last year’s insured loss load.
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The carrier can claim separately for the Palisades and Eaton fires if necessary.
