US FAIR plans turn to Bermuda for additional cover
Representatives of Citizens Property Insurance Company (CPIC) met underwriters in Bermuda late last month to assess how much limit Florida's state-backed insurer can buy with its $125mn budget for 2011.
Meanwhile, further demand for private reinsurance from so called residual insurers or FAIR plans has come via the North Carolina Joint Underwriting Association (NCJUA), which is understood to be looking to buy up to an additional $900mn limit at the top end of its cat programme.
CPIC - by far...
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