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Art Randolph

Florida’s Property Insurance Market

The Wind Is (Finally) Blowing

Florida’s Property Insurance Market
With Hurricane Hermine bearing down on Florida, I recognized that I could not physically do anything to assist my sister and her family in Jacksonville (or my friends and extended family throughout the state), nor my insurance company clients that admirably serve the communities that will be affected by the storm. However, Hermine obligates me to contemplate the potential impact she may have on the underwriting results and financial solvency of Florida property insurers, and how the property insurance landscape might be altered.
How Windproof is Investor Confidence in Insurance-Linked Securities?
Brett Parmenter August 31, 2016 Posted in: Blog Posts, Reinsurance
When I heard about Tropical Depression 9, which is likely to become a Tropical Storm and at one point had the potential to make landfall as a hurricane in the Gulf Coast states, I recalled the executive roundtable discussion I attended at the Casualty Actuarial Society’s recent Seminar on Reinsurance (CARe). The roundtable participants discussed the long-term impacts of capital markets in the reinsurance industry.
Finally, a Toe Hold for Property in RRGs?
Over the last thirty years, several ill-fated attempts have been made to expand the Liability Risk Retention Act (LRRA). A number of these attempts have focused on permitting risk retention groups (RRGs) to provide property insurance coverage, typically focusing on under-served property markets such as coastal or urban areas. A new bipartisan proposal, H.R. 3794, introduced by U.S. Rep. Dennis Ross, R-Florida, may present a thoughtful, measured toe hold for RRGs to expand into property insurance.
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