Axa XL will continue de-risking its cat exposures in 2019 through increased use of ILS, selective underwriting and more reinsurance purchasing, Axa XL CEO Greg Hendrick explained on Wednesday. Speaking to investors in London, he committed the firm to continuing a “significant reduction” of net nat cat exposures in line with the group’s reduced cat… Continue reading Axa XL Commits to Using More ILS Capacity to Continue De-Risking; Raises Profit Targets
Tag: hurricane insurance
Florida Freezes Insurance Rates for 90 Days After Michael
Gov. Rick Scott on Sunday directed the state’s top insurance regulator to freeze any potential property-insurance rate increases for 90 days as homeowners and businesspeople grapple with massive damage from Hurricane Michael. Scott also directed Insurance Commissioner David Altmaier to require rescinding for 90 days all policy non-renewals or cancellations that had been issued in… Continue reading Florida Freezes Insurance Rates for 90 Days After Michael
Hurricane Florence’s Force Is Still Felt in North Carolina Weeks Later
Nearly three weeks after Hurricane Florence made landfall on the North Carolina coast, some students are only just returning to school Thursday. Though floodwaters have largely receded, the storm’s effects are still being felt in nearly every aspect of life in eastern North Carolina. School is still out in much of the eastern part of… Continue reading Hurricane Florence’s Force Is Still Felt in North Carolina Weeks Later
RMS Estimates Insured Losses from Hurricane Florence May Be Up to $5 Billion
RMS, a global risk modeling and analytics firm, has estimated that the insured loss for Hurricane Florence will be between USD $2.8 billion and USD $5 billion. This estimate represents insured losses associated with wind, storm surge, and inland flood damage across North Carolina, South Carolina, and Virginia, including losses to the National Flood Insurance… Continue reading RMS Estimates Insured Losses from Hurricane Florence May Be Up to $5 Billion