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Ricardo Lara replaced Dave Jones yesterday.
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The industry association says insurers have received more than 81,000 claims so far.
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The commercial market now has capacity to retain the risk.
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The California utility faces lawsuits from Allstate, State Farm and USAA, among others. -
The Australian carrier now has A$9bn of catastrophe reinsurance limit for 2019.
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The risk modeller has issued a fourth and final estimate a year after the storm.
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Insurers will pay less for risks ceded to the scheme from 1 January.
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The firm recorded a slight aggregate pricing decrease for property cat reinsurance, despite losses affecting negotiations.
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The state-backed flood insurance scheme re-opens for new business after Fema called a halt on 26 December.
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Almost 30 insurers told a California regulator they would pay at least 75 percent of contents limits without detailed inventories.
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Insurance trade associations slam the decision, which they said ran counter to the wishes of the President and Congress.
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Fears of a second volcanic eruption are mounting and flights have been redirected away from the area.
