April 25th, 2022

Below is a Commentary Written By One of Our 2022 Conference Speakers

Start Date/Time:
11/30/-0001 12:00 AM
End Date/Time:
11/30/-0001 12:00 AM
Fort Lauderdale, FL United States

Assured Comment: Florida Homeowners’ Market Becoming Uninsurable?
Special legislative session called for the end of May; too late for reinsurers

We attended the Demotech/IRUA (Intermediaries & Reinsurance Underwriters Association) conference held in Florida last week.  Its kickoff coincided with the Governor’s call for the special session and many attendees were steeped in FL HO experience. Now, up to this point everything we’ve written can be considered ‘news’ and we try to leave the reporting of news to the journalists. Our purpose in penning this note is to share 1) The depth of this market disarray is among the worst we’ve seen covering this industry for many decades. About 20 years ago we had the privilege of sitting with the CEO of a prominent writer of Medical Malpractice who, days before announcing his company’s exit from the market, described it as being ‘uninsurable’. We heard similar commentary at this conference.  2) We suspect a real estate and political crisis in the state of FL commensurate with the aftermath of Hurricanes Andrew in 1992 and the active 2004/2005 hurricane seasons is at the doorstep of all FL HO stakeholders. If a substantial hurricane makes landfall in FL this season the problems could be worse, though we suppose the state could leverage its public finance mechanisms (e.g., a bond issuance or tapping the FHCF in creative ways) to make homeowner’s whole – it is an election year for the FL Governor, after all.

Participants at the conference suggested the most important fix from the upcoming session would be to amend/stop the state’s 1-way attorney fee statute. The only sure way to ensure progress, as we see it, is for reinsurers to exercise their rights to pull capacity from the state. The capacity shortfall, rating downgrades, and flood of business into Citizens that would follow could not be ignored or papered over with tweaks to the current property insurance statues fueling the runaway litigation (e.g., rules governing AOBs, the 1-way attorney fees, or the statute of limitations, among others).

We’re often asked what will stop social inflation. Our answer: Look to developments unfolding in Florida where citizens can increasingly and tangibly feel the adverse consequences of decisions to engage the services of contractors and lawyers promising to force their insurer to pay for a new roof; irrespective of whether the old one was legitimately damaged in a ‘sudden and accidental’ way.

Assured Research – May 2022

We are Extremely Thankful to Our 2022 Conference Sponsors

  FedNat/Century Risk    ♦    R+V Re  ♦   CaseGlide  Guy Carpenter    ♦    Guidewire
Odyssey Re      Renaissance Re   ♦   American Ag    ♦    Arch Re  ♦  Mapfre  ♦  Ryan Re
  State National    ♦  Merlinos   Ren Re  ♦  Trans Re  ♦  Stonybrook Capital  
FL Peninsula/Edison  ♦  Straight Line Global Munich Re Waterville Risk Partners

June 14th, 2022 - June 14th, 2022

June 14, 2022 IRUA Webinar: Cyber Underwriting Unmasked*

Start Date/Time:
06/14/2022 12:00 PM
End Date/Time:
06/14/2022 1:00 PM
Via Zoom
New York, NY United States

Tuesday, June 14, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom

Guest Speakers
Annamaria Landaverde
Cyber Practice Lead, Reinsurance Division
Munich Re US

Rachel Rossini
Product Manager- Cyber and Technology E&O-U.S.

This webinar will focus on the underwriting of cyber exposures.  Leading expert practitioners will explain the development of cyber exposure from how it is recognized today to its continuing evolution.  This is, and will continue to be, an extremely topical issue which has implications for multiple aspects of an enterprise.

This session is part of our “Reinsurance Basic Syllabus Series” program, forming part of a “Reinsurance Basic Syllabus”.  This initiative brings a series of 12 topics together for those professionals who have recently joined the industry or who have just a few years of experience.  It is intended to be a “Reinsurance Primer Series” of basic topics and which will be offered on a rolling two-year cycle.  A Certificate will be issued to participants who complete 10 of the 12 topics.  

Registration Fees:
IRUA corporate & Individual members – $75
Members must log in to receive the discounted rate.
Non-Members – $95

Please Note: Before registering and if you are not sure if your company is an IRUA member, please see the “crawler” on our homepage that features all IRUA member companies.

June 30th, 2022 - June 30th, 2022

June 30, 2022 IRUA Member Company Summer Interns Event

Start Date/Time:
06/30/2022 12:00 PM
End Date/Time:
06/30/2022 2:00 PM
Trans Re
1 Liberty Plaza
165 Broadway
New York, NY United States


Have summer interns?  The IRUA Scholars Committee is pleased to bring back this FREE  EVENT which will give your interns a first-hand look at the reinsurance business from active practitioners.

Thursday, June 30, 2022
12:00 pm – 2:00 pm
Attend Either in Person or Virtually


Trans Re, located in downtown Manhattan, is hosting an IN-PERSON & Virtual event including LUNCH at their offices on June 30, 2022.  The event will start at 12 Noon (EST) and run until approximately 2:00 pm.   This event is also be offered VIRTUALLY via Microsoft Teams commencing at 12.30 p.m. after the lunch time portion of the meeting.

Danny Hojnowski, Vice President 0 US Casualty E&O Underwriting of Transatlantic Reinsurance Company will introduce the following professionals who will talk for 10-15min each about how they got into reinsurance, what they do, what they enjoy about their jobs, and why reinsurance is a great career opportunity.

  • Kate Tyler – Sompo International – Casualty/Specialty Underwriting
  • Jim Rizzo – Beazley – D&O Underwriting
  • Miguel Canals – TransRe – Cyber Reinsurance
  • Ed  Staryarsky – TransRe – Property Re (Modeling and Underwriting)

Plenty of time has been built into this informal program allocated for questions f as to allow for the most interactive discussion as possible.  Interns will come away informed and excited to become part of the industry.

*****  There is NO CHARGE for Either the In-Person & Lunch or Webinar Attendance  *****

Registration is Incredibly Easy! Simply send an email with attendees name,
email address and company they are interning at to:

Maria Sclafani, IRUA’s Executive Administrator at:  

 Note:  IN-PERSON Attendance is Limited to 45 people so don’t delay! REGISTER TODAY.

In-Person Attendance Location
Transamerica Reinsurance, 1 Liberty Plaza, 165 Broadway, New York

Virtual Attendance
  Connection details will be sent on Wednesday June 29
Registrations will be accepted up until 12 Noon EST on June 29.

You will need to show your photo ID and PROOF of COVID-19
vaccination to be permitted to enter the building


IRUA is, once again, grateful to Trans Re and, in particular, Danny Hojnowski for arranging and hosting this event in their “Excellent” NYC office! Thank you to Trans Re.