Fairfax Financial projects as much as $750 million in loss from Los Angeles wildfire – Go Health Pro

Fairfax Financial projects as much as 0 million in loss from Los Angeles wildfire – Go Health Pro

Fairfax Financial Holdings may face net losses between $500 million and $750 million from the wildfires that impacted the Los Angeles area, based on preliminary estimates, according to a report from AM Best.   During a fourth-quarter earnings presentation, president and chief operating officer Peter Clarke stated that the fires would primarily be a reinsurance event … Read more

Topanga Re cat bond price recovers further, as risk of wildfire loss seen declining – Go Health Pro

Topanga Re cat bond price recovers further, as risk of wildfire loss seen declining – Go Health Pro

We’re told by sources that the secondary market price for the $100 million Class A notes of Farmers Insurance Group’s Topanga Re Ltd. (Series 2021-1) catastrophe bond has recovered further, as the cat bond market views the risk of principal losses from the California wildfires as having declined.Immediately after the wildfires, the Topanga Re cat … Read more

California Wildfire Mitigation And Recovery Bill Package Introduced – Go Health Pro

California Wildfire Mitigation And Recovery Bill Package Introduced – Go Health Pro

California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended focus are on consumer protection, climate resiliency and market strength. Among the proposals are a statewide grant program to assist with wildfire hardening, protections for … Read more

Euler ILS Partners raises LA wildfire industry loss estimate to $23bn-$33bn – Go Health Pro

Euler ILS Partners raises LA wildfire industry loss estimate to bn-bn – Go Health Pro

Euler ILS Partners, the specialist insurance-linked securities (ILS) investment manager, has issued an updated event report for the California wildfires, saying it believes the insurance industry loss may sit between $23 billion to $33 billion.In January, the investment manager released its first event report from the wildfires, where analysts initially estimated that insured losses from … Read more

Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm – Go Health Pro

Elevated Risk of Mudslides at LA Wildfire Burn Scars From Coming Storm – Go Health Pro

Meteorologists are warning of an elevated risk of dangerous debris flows and destructive mudslides in Southern California next week in areas scorched by destructive Los Angeles wildfires. AccuWeather meteorologists expect between 2 inches and 4 inches of rain near the Eaton and Palisades burn scar areas in L.A. Wednesday through Thursday The oncoming storm may … Read more

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