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The figure does not include NFIP losses. -
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Most of the estimated insured losses will be retained by insurers.
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Sources expect significant loss amplification in the claims that will come from Georgia, the Carolinas and Tennessee.
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The ruling is the latest in a series of ongoing legal wranglings over Covid-19 BI losses.
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The numbers will be refined further to arrive at an industry loss estimate.
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Third-party litigation funding has been linked to rising casualty insurance prices.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The firm will specialise in professional liability insurance for SMEs.
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Reinsurers will likely push for double-digit US premium rate increases.
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Polo Managing Agency is to act as turnkey to the new venture.
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