Homeowners Choice pegs Matthew losses at just $50mn

Homeowners Choice P&C Insurance, a subsidiary of listed
Floridian firm HCI, has said that it expects gross losses of less
than $50mn from Hurricane Matthew.
It said that at this level claims would not trigger a recovery
under reinsurance covers provided by third-party carriers -
indicating that its captive insurers will bear the brunt of the
loss.
This follows early loss estimates from other Florida insurers
for relatively modest insured damage from the storm. However, with
many Florida carr