Florida
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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines. -
The state reinsurer of last resort discussed options for 2025 reinsurance buying strategy.
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The 2025 target would be ~25% larger than the $3.56bn it placed for 2024.
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The loss figure has increased 200% from the initial number provided in October.
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Helene losses were spread wider than initially suggested, in contrast to Milton claims.
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Fema's traditional reinsurance programme will attach at losses of $7bn and above.
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The firm will provide an update on 22 November to avoid holiday season.
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The estimate implies a roughly $15bn homeowners’ industry loss from the hurricane.
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The figures imply first-layer reinsurance recoveries for Helene.
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The loss tally is considerably lower than estimates issued by model vendors.
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In line with Milton’s moderate forecast loss, the ILS market reaction will be less influential in post-event dynamics.
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The carrier is looking at a $600-$900mn hit from hurricanes Debby, Helene and Milton.
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