Claims and losses

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.

The building on Manhattan’s Seventh Avenue is home to financial services firms and law firm Willkie Farr & Gallagher.

The insured loss tally rises 7.8 percent from the data aggregator’s April figure.

The total, as of last month, represents a doubling of the total since November.

The insurance company has been placed under regulatory supervision after Hurricane Maria losses exhausted its reinsurance.

Florida Office of Insurance Regulation (Floir) data shows the total of insurance claims has increased from the $6.1bn reported in March.

Experts still forecast an average hurricane season.

Preliminary data suggests the number of reported tornadoes in the quarter to date is the highest since 2011.

The Earthquake Commission reportedly lifts its cover by 12 percent.

The Florida insurer said it spent $249.2mn on its 2019 reinsurance programme, saving $10mn compared with last year.

Chubb, Allstate and Liberty Mutual are among insurers seeking reimbursement for claims from the utility.

The deterioration pushed the retro fund’s 2018 loss to 46.7 percent for C shares.