Florida
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It was nearly 900% up on the year-ago figure, as the insurer’s executives cautiously welcomed new Florida legal reforms.
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Universal Insurance Holdings reports premium growth and lower cat losses in Q2.
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Heritage expects to incur $24.5mn of net current accident quarter catastrophe losses and $11mn of net current accident quarter other weather losses in Q2 2021.
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Its reinsurance premiums ceded are expected to reach $207mn, up from $175mn a year earlier.
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The new adjustments will increase rates 7.6% on average after February 1, 2022.
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A federal judge finds that a new law banning contractors from advertising that insurance may cover roof repairs unconstitutional.
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It hit north of Tampa, and storm surge warnings for wider Gulf Coast were discontinued.
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It was upgraded to a category one hurricane by the National Hurricane Centre last night before being downgraded in a public advisory at 2am (EDT).
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Tropical Storm Elsa picked up some strength as it passed over the Florida Keys Tuesday, raising the possibility it could become a hurricane again before slamming into the mainland.
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UPC’s early look at its expected cat toll for Q2 – typically a quiet period for cat events – could be a signal that the quarter was busier than usual for weather events.
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The new law limits insurer liabilities for attorney fee suits against insurers and reduces time limits for claims.
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Version 21.0 of the model will become available to clients on June 23.