Reinsurers Left Unscathed by LA Fires Due to Risk Retreat
California’s devastating wildfires have raised concerns about the state’s insurance system, but reinsurers may be largely insulated from the cost. Industry analysts predict that reinsurance companies will absorb less than 3% of insured losses from the blazes. The retreat of reinsurers from disaster risks has led to higher premiums and reduced coverage in California. Major … Read more