HCI anticipates $100mn-$300mn gross Irma loss

HCI said its main operating subsidiary, Homeowners Choice
Property & Casualty Insurance Company, expects a loss from
Hurricane Irma of $100mn to $300mn, which will fall mainly on its
reinsurers.
The Florida-based carrier said the expected losses at Homeowners
Choice will exceed the division's $16mn reinsurance retention
level and "trigger reinsurance recoveries, as well as trigger
the loss of accrued benefits and deferrals under retrospective
provisions within certain reinsurance contracts".