Breaking News
Heritage Provides Estimated Impact of Hurricane Ian
Heritage Insurance Holdings, a super-regional property and casualty insurance holding company, announced today that it expects to incur $40.0 million of net retained losses associated with Hurricane Ian, inclusive of reinstatement premiums and participation by the Company’s captive reinsurer, Osprey Re. Ultimate gross losses continue to be evaluated but are expected to fall within layer 2 of the catastrophe excess of loss program which begins at $140.0 million and exhausts at $960.0 million. To date, the Company has received close to 12,000 claims associated with Hurricane Ian.
“I recently visited southwest Florida and observed some of the wind and flood damage caused by the hurricane. Our highest priority is our policyholders and all those affected by Hurricane Ian remain in our thoughts,” said Heritage CEO Ernie Garateix. “Our ultimate gross loss is expected to be contained within the second layer of our reinsurance tower and be well within our reinsurance tower, which provides up to $1.2 billion of limit for a first event. Our Heritage team includes excellent claim handling resources, robust repair and mitigation capabilities, and an experienced in-house legal team, all of which are supported by technical analytical resources to assist with the claims adjusting process. Additionally, we have a highly rated syndicate of reinsurance partners on our reinsurance program.”
People In This Post
Companies In This Post
- Genpact Launches New Agentic Solution to Reinvent Insurance Buying Read more
- Home Claims Insights from LexisNexis Risk Solutions Helps Empower U.S. Property Insurance Executives Read more
- Community Health Options Selects Gradient AI to Accelerate Group Health Underwriting and Renewals Read more
- Zego Reports Strong Results and Launches New Consumer Insurance Product Read more
- Duck Creek Technologies Named a Leader Once Again in 2025 Gartner® Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America Read more
Genpact Launches New Agentic Solution to Reinvent Insurance Buying
Genpact announced the launch of the Genpact Insurance Policy Suite for commercial and specialty business insurance
Home Claims Insights from LexisNexis Risk Solutions Helps Empower U.S. Property Insurance Executives
LexisNexis® Risk Solutions, a leading data, analytics and technology provider, today announced the launch of the Home Claims Insights dashboard within the LexisNexis® Insurance Market Insights platform.
Community Health Options Selects Gradient AI to Accelerate Group Health Underwriting and Renewals
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced that Community Health Options has successfully adopted its integrated Risk Management Life Cycle solution.
Zego Reports Strong Results and Launches New Consumer Insurance Product
Insurtech leader Zego has significantly strengthened its financial position in 2024
Duck Creek Technologies Named a Leader Once Again in 2025 Gartner® Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America
Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced Duck Creek Technologies has been positioned again by Gartner as a Leader in the 2025 Gartner® “Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America.” The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
Eleos Launches Super-Simplified Digital Term Life Insurance with Wellness Perks for UK Policyholders
Eleos Life is launching digital-first life insurance to complement its income protection for customers across the UK
Lockton Re Utilizes CyberCube’s New Exposure Manager Product to Elevate Cyber Portfolio Risk Transparency
Lockton Re is the first reinsurance broker in the industry to adopt Exposure Manager (XM), CyberCube’s newly launched product,
Genpact Launches New Agentic Solution to Reinvent Insurance Buying
Genpact announced the launch of the Genpact Insurance Policy Suite for commercial and specialty business insurance
Home Claims Insights from LexisNexis Risk Solutions Helps Empower U.S. Property Insurance Executives
LexisNexis® Risk Solutions, a leading data, analytics and technology provider, today announced the launch of the Home Claims Insights dashboard within the LexisNexis® Insurance Market Insights platform.
Community Health Options Selects Gradient AI to Accelerate Group Health Underwriting and Renewals
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced that Community Health Options has successfully adopted its integrated Risk Management Life Cycle solution.
Zego Reports Strong Results and Launches New Consumer Insurance Product
Insurtech leader Zego has significantly strengthened its financial position in 2024
Duck Creek Technologies Named a Leader Once Again in 2025 Gartner® Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America
Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced Duck Creek Technologies has been positioned again by Gartner as a Leader in the 2025 Gartner® “Magic Quadrant™ for SaaS P&C Insurance Core Platforms, North America.” The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
Eleos Launches Super-Simplified Digital Term Life Insurance with Wellness Perks for UK Policyholders
Eleos Life is launching digital-first life insurance to complement its income protection for customers across the UK
Lockton Re Utilizes CyberCube’s New Exposure Manager Product to Elevate Cyber Portfolio Risk Transparency
Lockton Re is the first reinsurance broker in the industry to adopt Exposure Manager (XM), CyberCube’s newly launched product,