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Annual report pegged data and cyber security risks as most cited business challenges. -
The LA-based carrier said it did not expect the event to result in credit defaults.
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It was 0.1% in December, after dropping from 0.3% in the prior two months.
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Insurers could absorb as much as 90% of this year’s already elevated losses given shifts in attachment points.
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The second half of the year was significantly more active for the legacy market.
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Carriers that started earlier in correcting their books and catching up with loss trend may be reaping rewards.
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Alexandra Furth has more than 20 years of claims and legal leadership experience.
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Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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Subsidiaries of Chubb, AIG, Travelers and The Hartford were all named in the lawsuit.
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A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
