FedNat expects fees to offset net claims impact from Ida as reinsurers set to pick up losses
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FedNat expects fees to offset net claims impact from Ida as reinsurers set to pick up losses

Eli Rallo
September 01, 2021
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FedNat Insurance logo Fort Lauderdale Florida.jpg

Florida-based carrier FedNat said on Wednesday it is too soon to estimate gross losses from Hurricane Ida, but it expects total claims values to exceed the combined $18.3mn retention across its two reinsurance programs.

However, factoring in fees the company says it will earn in its claims adjusting subsidiaries from managing Ida claims, FedNat anticipates the net overall financial impact will be “significantly less” than the reinsurance retention.

FedNat

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Eli Rallo
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