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The MGA said insurers competing on price was “not sustainable”.
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Benign claims activity and increased capacity are contributing to “competitive pressures”.
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A roundup of all the news you need today, including Hurricane Milton’s shifting track towards Tampa.
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The broker confirmed Darren Jones and Ian Curtin were also joining the firm.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Current efforts to battle third-party litigation funding are focused on disclosure.
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Destructive storm surge is expected along Florida’s west coast on Wednesday.
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The panelists discussed the ILS reset and the path to maintaining discipline in this sector.
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Moody’s also predicts losses to the NFIP at potentially more than $2bn.
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The storm is packing maximum sustained winds of 175mph.
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The government flood insurance program now carries $21bn in debt.
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The hull market is currently experiencing high levels of competition.