All Florida articles
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NewsAon: Record reinsurance capital spurs competitive 1/7 renewals
Insurers buying protection at midyear renewals benefit from improved pricing, terms and conditions as global reinsurance capital exceeds $720bn, according to reinsurance broker Aon.
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NewsAon gains Florida commission approval for updated hurricane catastrophe model
It follows approval of the re/insurance broker’s US flood model last November and forms part of the firm’s broader suite of solutions for real-time loss forecasting, accumulation scenarios and climate risk assessments.
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NewsAcrisure Re warns of ‘above average’ hurricane season for 2025
The reinsurance broker comments on the traditional start of the North Atlantic Hurricane Season for 2025, suggesting extreme weather will be on the way, as the re/insurance industry watches for the first storm to make landfall.
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NewsMilton to cost $26bn “best estimate” insured loss – Moody’s RMS
Hurricane Milton will cost insurers and reinsurers somewhere in the range of $22-$36bn, according to Moody’s RMS Event Response.
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NewsVerisk puts $30-50bn insured loss range on Milton
Hurricane Milton hit south of Tampa, making landfall in Siesta Key and South Sarasota around on 9 October as a Category 3 hurricane.
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NewsMoody’s RMS puts $35-55bn insured loss estimate on Helene and Milton combined
Catastrophe modeller Moody’s RMS will issue its final industry-insured loss estimate for Hurricane Milton later this week.
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NewsHurricane Helene slams into Florida – Moody’s re/insurance impact report
Insurers most exposed to the storm are Florida-only carriers, the ratings agency emphasised.
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NewsDebby insured loss capped at $1.5bn – Moody’s RMS
Catastrophe modeller Moody’s RMS’s Hurricane Debby estimate represents insured losses associated with wind, storm surge, and precipitation-induced flooding.
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News‘Above average’ hurricane season expected – Moody’s
A hyperactive season is not out of the question, suggests Moody’s, in its 2024 Northern Hemisphere Tropical Cyclone Outlook report.
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NewsFlorida reforms will offer relief to ‘dire situation’ - AM Best
New laws include the elimination of AoB. But reinsurance and ILS capacity will remain limited for some time
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NewsProperty rates set to soar 50% at 1/1 - Beazley
Beazley is ready to ‘step up’ at a time of market dislocation, says Treaty head Patrick Hartigan
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NewsFlorida buyers will struggle for capacity at 1/1 - Fitch
Rating agency predicts double-digit rate rises for property catastrophe cover driven by insured losses of c.$120 billion
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NewsRare hurricane set for east Florida landfall
Nicole is expected to intensify to a category 1 storm as it approaches the east Florida coast so late in the season
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NewsGallagher Re: Ian was Southwest Florida’s ‘Andrew’
Hurricane is set to be one of the costliest US catastrophe events on record; despite building code ‘success stories’
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NewsSwiss Re pegs Ian losses at $1.3 billion
The reinsurer estimates the total insured market loss from Hurricane Ian at $50 billion to $65 billion
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NewsTotal economic damage from Ian to breach $100 billion, says KCC
Cat modeller predicts high proportion of litigated claims due to ‘tremendous amount’ of coastal flooding
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NewsInflation a major wildcard for Florida recovery - RMS
’Wind versus water’ claims disputes to arise post Ian, with full recovery likely to “take years”
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NewsVerisk pegs Ian losses at $42 to $57 billion
Ian brought significant storm surge damage, however, the flood insurance take-up on residential risks in Florida are low
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NewsHurricane Ian barrels across the Florida peninsula
Two million people are without power after the 5th most powerful storm in US history slammed into the southwest Florida coast
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NewsHurricane Ian will 'test' Florida reinsurance program - AM Best
Ian could add to the capital pressure faced by ’thinly capitalised’ insurers and see reinsurance rates harden further
