Allstate slashes Florida cat limit

Allstate has scaled back the catastrophe reinsurance limit for
its Floridian exposures by $75mn for 2016/17.
This year the carrier bought a $200mn excess $60mn cover to
protect its portfolio once limit from state-backed reinsurer the
Florida Hurricane Catastrophe Fund (FHCF) is exhausted.
Last year, it had $275mn excess $66mn in place at this
level.
Allstate also reduced the limit placed below the FHCF cover,
buying a $40mn excess $20mn first layer instead of the $51mn excess
$15mn deal agreed..