The National Flood Insurance Program (NFIP)’s loss estimate from Hurricane Helene has been raised to $6.75bn with the claims total nearing the point where the organisation’s reinsurance program will be triggered.

This month’s winter weather in the US may cause total economic and insured losses in the tens of millions, according to Aon.

Gallagher Re has upped its expected loss range for the Southern California wildfires to $20bn to $30bn, with the portion ceded to reinsurers potentially in the mid-to-high single-digit billions of dollars.

With a growing expectation that the Los Angeles wildfires will go through the California Fair Plan’s reinsurance protection, focus is increasing on a cat program which The Insurer can reveal has more than 60 participants spanning the US, Bermuda, Lloyd’s/London and international markets.

California insurance commissioner Ricardo Lara has expanded a moratorium preventing insurance cancellations and non-renewals to tens more zip codes adjoining the perimeter of the Palisades, Eaton, Hurst, Lidia, Sunset, and Woodley fires for one year starting 7 January.

The National Flood Insurance Program has placed $757.8mn of reinsurance cover for 2025 through the support of 27 private reinsurance companies.

Coalition has rolled out a new regional go-to-market model (GTM) in North America, establishing five new territories, in an operating model shift aimed at centralizing broker engagement as well as driving faster and better service, Cyber Risk Insurer can reveal.

Green Shield Risk Solutions CEO and founder Pat Blandford has said the Los Angeles wildfires are consistent with the firm's models, as he highlighted the importance of using propagation modelling for the peril to simulate events.

The growing volume of $10mn+ homes, fine art collections and other valuable assets destroyed by wildfires raging in and around Los Angeles means the profile and distribution of a rapidly escalating industry loss is likely to be atypical compared to other recent catastrophic events.

The California Fair Plan has reiterated that it has mechanisms in place to ensure all covered claims will be paid as concern grows that the residual carrier may have to undertake a significant assessment on the Golden State’s admitted property insurers and their policyholders.