Claims and losses

FedNat has increased its level of aggregate protection in advance of its acquisition of 1347 PIH.

Reinsurance rates are rising, especially in Florida and retro, but primary market changes are still outstripping the significance of these improvements.

The American carrier identified 14 catastrophic events, with one accounting for half the total losses.

The third estimate is a 21 percent increase from the March tally.

Insurance association GDV says car claims accounted for more than half of the total.

Despite early hopes of sizeable rate rises, reinsurers are frustrated that many accounts will renew with as-before terms.

The Toronto-based firm will continue to be managed by its current team.

The move comes after the Corporation denied last year that ratings agencies and the PRA were pushing to reduce cat exposure.

Tornadoes and other severe storms were behind the losses, the company said.

Congresswoman Maxine Waters has proposed the new law to end lapses in National Flood Insurance Program coverage.

A rule-of-thumb calculation suggests Boeing’s grounding liability sub-limit may already have been breached.

I spent the early part of last week in Bermuda and, in between running for cover whenever it rained, my days saw me visiting contacts and hearing their thoughts on the current major market talking points.