Regulation

Losses would run into hundreds of billions if carriers were expected to fund non-damage BI.

The groups say business interruption insurance was not designed to cover losses from Covid-19.

Coverage expansion to take in the pandemic could generate billions of (re)insurance losses and make some carriers insolvent.

The Dubai-based carrier will target surplus specialty lines including energy, property and political violence.

A further one-year delay to the new accounting framework would mark a victory for industry groups.

The law would make it harder for attorneys to use contingency risk multiplier fees.

The (re)insurer's board has appointed Barclays to carry out a review of strategic alternatives.

Heritage held its earnings call Friday, echoing comments from fellow Floridian FedNat that AOB-related claims had fallen substantially since reform enacted in the middle of last year.

Bruce Lucas said the decline was “pretty material”.

FedNat shed light on improvements in the Florida market following AOB reform, but emphasized the tort environment still presents problems and is driving the company to pursue growth outside the state.

The deal boosts Fema’s total reinsurance cover to $2.53bn.

The decision comes amid a flurry of regulatory and legislative activity intended to aid homeowners affected by recent wildfires.