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The carrier is scrutinising and amending group-wide policy language to clarify coverage for cyber risk across all lines of business. -
Towns are evacuated in the north, while flash flooding cuts power in Australia’s largest city.
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The November fires tear through the Los Angeles carrier's main reinsurance programme.
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The modelling firm lifts its top-end forecast by $1bn.
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The planned cover follows a decision by the car insurer pool’s member companies to shoulder the risk collectively.
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The carriers’ aggregate Solvency II ratio lags behind many European peers but is well above the floor level, the ratings agency said.
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Backer Anthemis notes that sector innovation has largely bypassed construction insurance.
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The carrier predicts an underwriting result of 1 percent of net earned premiums in 2019 and 2020.
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Loss estimates for California wildfires crystallising around $10bn-$15bn range.
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Aggregate loss activity will trap retro capital for a second year running, as disappointing returns set up expectations for reduced capacity.
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PG&E could face $10bn in claims from 2017, with a similar scenario to potentially play out after this year’s fires
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The deal adds four run-off books to the legacy carrier.
