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How are adjusters responding to current challenges presented by natural catastrophe claims?

In addition, SafePoint Insurance and an affiliate are taking on nearly 20K policies from Louisiana Citizens Insurance.

Property catastrophe reinsurance was the most challenging segment of the market during the recent renewal season.

The 2022 hurricane season illustrated that even in a mild year, a single major storm can cause industry-shaking losses.

These were the ten most damaging hurricanes to hit the U.S. based on the 2023 Consumer Price Index adjusted cost, according to the NOAA.

The second round of applications for the Insure Louisiana Incentive Program was originally scheduled to remain open through May 25.

The state's department of insurance reports that nine companies applied for more than $60 million in funding from the program.

Companies will receive credit for any UPC policies that are taken prior to the approval of incentive program applications.