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The regulatory body is also looking at AI rulemaking and catastrophe resiliency. -
Allstate attributed the bulk of its losses to three major wind and hail events.
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Florida regulators have also approved takeouts for Mangrove and Slide.
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This is up from last year’s $1bn protection for its Florida treaty.
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An active hurricane season threatens to weigh on hard-fought capital and underwriting margins.
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Van Bakel said that AI can help triage thousands of disaster claims.
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The number has expanded by around 40% from an earlier update, sources said.
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Estimates on what a cat five in downtown Miami could cost vary, but it would be painful for reinsurers.
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The modeller said the insurance market could be exposed to unexpected aggregations.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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The executive has 15 years of experience in meteorology and cat analytics.
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Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
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