50%+ rate requests considered
Two property insurance companies explain at public hearings the reasons they need 50%-plus rate increases on their Florida policies, reinsurance companies express concern to Florida insurance carriers about potential loss creep from Hurricane Ian, plus a …
Citizens choice
When the Citizens Property Insurance Corporation Board of Governors last met in December they had a novel idea. Rather than spend another $250 million on reinsurance like it did in 2021 and get nothing for it given it …
Over the past week there have been headlines in the insurance trade press where one company had to increase their Hurricane Irma reserves by $200 million, and a leading reinsurer expressing frustration that the dreaded Hurricane Irma “loss creep” (a …
Market conduct woes, reinsurance worries
As we work through the open claims of Hurricane Michael, we’re seeing the same loss creep still being experienced from Hurricane Irma claims. It’s something that’s on the minds of reinsurance interests, too, along with …