California
-
The fire started Wednesday morning and is currently 0% contained. -
Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
-
Most carriers paid more in homeowners’ claims than they collected in premiums.
-
The pool services a number of public authorities in California.
-
The carrier can claim separately for the Palisades and Eaton fires if necessary.
-
The carrier has received more than 3,600 claims from LA wildfires.
-
There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
-
The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
-
This will be the most expensive fire in the state’s history, it said.
-
A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
-
Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment.
-
The members’ agent said 2024 will still be a profitable year for Lloyd’s.
Most Recent
-
Hamilton Global Specialty cyber head Spencer-Sim to exit
30 April 2025 -
Voss among multiple European TL resignations from Dual
30 April 2025 -
PartnerRe non-life segment swings to Q4 profit
30 April 2025