Florida
-
The recommendations await approval from the Florida Office of Insurance Regulation.
-
The state carrier completed phase one of its program with the $500mn Lightning Re cat bond placement.
-
Most of the 708,255 claims relate to residential properties and arose from Lee County, Florida.
-
On Thursday, the bill passed 23-15 in Florida's Senate, after passing the House last week.
-
The Floridian has lowered pricing to 900-950bps in a second reduction.
-
The Florida insurance carrier has grown its book rapidly through acquisition.
-
Yaworsky has served as interim insurance commissioner since being nominated by Governor Ron DeSantis last month.
-
CEO Locke Burt said Florida reforms would be “transformational” and that investors had become more receptive to cat risk owing to higher rates.
-
The state-backed carrier’s policy count is projected to hit a record high of 1.6 million by year-end.
-
The insurer reported an underwriting profit for Q4.
-
The issuance is replacing $400mn of cat bond coverage placed in early 2020.
-
The bond is seeking industry-loss-based annual aggregate named storm coverage.
Most Recent
-
Allianz names Park as global head of retro
31 March 2023 -
Perils pegs Cyclone Gabrielle losses at over NZ$1.5bn
30 March 2023