Property
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The proposal is at the upper end of previous proposals put to the insurer’s board. -
The NICB has estimated that fraud adds 5%-10% to the total claims paid following a disaster.
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The carrier has also promoted Srdjan Todorovic to lead its global political violence operation.
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A string of Florida carriers have had their financial stability ratings downgraded by Demotech in recent weeks.
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The state Governor’s goal is ‘to have a functioning market’ for property insurance in Florida.
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Discussions around rates remained amicable despite years of compound rises.
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The move is part of the process that allows the Louisiana Insurance Guaranty Association (LIGA) to take over claim payments, ensuring most policyholders with pending hurricane claims will get paid.
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Based in Boston, the executive will report to Michael Garrison, head of Navigators wholesale.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The study says a more La Niña-like environment has driven the trend.
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In some cases, sources said, wages have increased between 25% and 35% over the last 12 months.
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By failing to pass plans for new roof damage deductible, Citizens Property policy reductions, Florida lawmakers left property insurance reforms in limbo.
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