California
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The California fires will test post-2018 treaty revisions – and reinsurers’ nerves. -
Guy Carpenter said personal-lines exposure would account for 85% of the aggregate loss.
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Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
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In Partnership With Allianz CommericalWhat is fueling the intense mergers and acquisitions activity in the MGA space, and how is it shaping the competitive landscape?
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The total includes fire and smoke damage plus living expenses for evacuees.
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The fire started Wednesday morning and is currently 0% contained.
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Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
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The pool services a number of public authorities in California.
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The carrier can claim separately for the Palisades and Eaton fires if necessary.
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The carrier has received more than 3,600 claims from LA wildfires.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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