Storm losses erode UPC Insurance deductible

UPC Insurance incurred almost $20mn of catastrophe losses for the
first four months of the year to put it $10mn shy of triggering its
aggregate and quota share reinsurance covers, sister publication
Trading Risk reported last week.
The Florida-based carrier incurred about $9mn of cat losses in
April due to high storm activity in the month, the firm's CEO
John Forney said on an earnings call, accordingto a Seeking Alpha transcript.
That added to the $10.6mn of weather losses...