Liberty Mutual has restructured its reinsurance program to bebetter prepared for storms, according to its president and CEO.
During a conference call to discuss first-quarter earnings,chief executive David H. Long said the insurer believes there is a“distinct possibility” of an increase in stormevents.
Liberty Mutual has therefore restructured its reinsurance tocover lower-severity, non-modeled events while also providingprotection for high severity when needed. In addition, the carrierwill “insist on receiving sufficient prices to cover the risk, orwe will not write it.”
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