North America
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%. -
The homeowners’ carrier has secured Floir approval.
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The California fires will test post-2018 treaty revisions – and reinsurers’ nerves.
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Guy Carpenter said personal-lines exposure would account for 85% of the aggregate loss.
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Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
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The industry loss number has increased threefold from an initial $5bn pick.
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The total includes fire and smoke damage plus living expenses for evacuees.
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The executive will replace retiree Michael Miller.
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The fire started Wednesday morning and is currently 0% contained.
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Disclosures show the insurer has roughly 4,300 homeowners’ policies in effect in fire-impacted zip codes.
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Most carriers paid more in homeowners’ claims than they collected in premiums.
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The broker said disaster data can attract more risk capital.
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