Patriot Select Property and Casualty Insurance Company has finalized its 2026 catastrophe reinsurance renewal, securing a total of $310 million in coverage. This includes $220 million from the private market and $90 million from the Florida Hurricane Catastrophe Fund (FHCF), along with $145 million designated for second and subsequent events.
Patriot Select's reinsurance structure reflects a strategic approach to managing catastrophe risk in a challenging market environment. The $220 million of private market limit is complemented by the $90 million FHCF cover, which provides additional financial protection against hurricane-related losses.
The inclusion of $145 million specifically for second and subsequent events underscores the company's commitment to ensuring robust coverage in the event of multiple catastrophic occurrences. This renewal comes amid improving market conditions and a continued stabilization of the reinsurance landscape, which may have influenced the terms and availability of coverage for Patriot Select.
Key Takeaways
Based on reporting by Artemis. All facts sourced from the original article.