Speed of Settlement.
EARNINGS & SURPLUS PROTECTION
Overview of Program
- Protection for the impact of multiple storms on earnings and surplus.
- Florida is divided into either 2 sections or 3 sections. If ANY of the anemometers in that section meet or exceed the pre-determined wind speeds during a national weather service Named Storm, the corresponding limit is then made available. Most significant storms have a high probability of triggering more than one section.
- Coverage is available as either reinsurance or through the appropriately licensed entity in financial form. In Financial Form there is the potential for positive basis risk.
- Coverage can inure to the Insurance Company, Captive, or Holding Company.
- Suitability for Rating Agencies and Regulatory Bodies: Both already accept the carriers retaining this risk on their balance sheet, risk transfer should be viewed upon favorably
- Transparency: Wind Speeds can be monitored in real time (Subject to cellular availability)
- Rapid Settlement and no “Black Box”
Included in the program is a data license for Weatherflow’s Storm Print product. More information here.