A “hidden flood” component could push insured losses from Hurricane Harvey toward the $40bn upper bound of the current RMS estimate for the event, according to an executive at the modelling firm.
Modelling firm AIR Worldwide has narrowed its insured loss estimate for Hurricane Irma, now projecting the devastating storm will cost the industry between $32bn and $50bn.
RSUI’s president and CEO David Leonard has sought to dispel the “myth” that the cost of doing business with the excess and surplus lines market is higher than the retail sector.
Michael Millette’s Hudson Structured Capital Management has taken an 80 percent line on a quota share for on-demand car insurance startup Metromile in a $500mn first-of-its-kind deal.
