The Full Perspective: Florida lawsuits and A&H entries
Update: 2020-07-24
Description
This week the team looks at the final throes of lawsuit activity connected to Hurricane Irma claims as well as new market entries into the accident & health (A&H) sector.
Key points on Florida insurance litigation include:
- Total cases filed against the largest Florida insurers jumped by 23% in June from the prior month the highest point in the past year, reflecting an expected final surge ahead of the three-year deadline to file Hurricane Irma claims
- However, the number of cases filed using assignment of benefit rights – while up from May – remains below the peaks seen in late 2019 suggesting legislative reforms have helped curb these claims.
Related reading: https://bit.ly/3fXNmNQ
Key points on the A&H entries include:
- The segment has until now largely resisted the price firming in other specialty niches so some might see these developments as surprising, but as A&H covers a wide range of business, new entrants are likely to take a highly tailored approach to building their portfolio
- Entries to the segment from Optio Underwiting, Convex and Lancashire follow earlier withdrawals from Markel International and Starstone International
Related reading: https://bit.ly/3g02g6b
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