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SAN FRANCISCO, April 27, 2021 /PRNewswire/ Delos Insurance Solutions, using aerospace expertise to solve insurance availability and affordability issues, today announced an agreement with A+-rated reinsurance companies that will result in a five-fold increase in insurance capacity for California homeowners in areas prone to wildfires. The new reinsurance capacity is provided by Arch Reinsurance Ltd. (Bermuda) and the Lloyd s of London syndicate, Arch Syndicate 1955 (formerly Barbican Syndicate 1955). Both companies are part of the Arch Capital Group, Ltd., which is rated A+ by A.M. Best.
Delos, which was founded by aerospace engineers, uses satellite imagery and proprietary modeling technology to quantify a home s actual wildfire exposure – to address a frequent miscategorization between exposed and stressed. The Delos model identifies homes in stressed areas of California that cannot find insurance protection but are not highly
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A “slower and more complicated” quoting process, rigorous contract reviews, later than average contract signing and “significant” pricing pressure for loss-impacted programs were the hallmarks of the January 1, 2021, reinsurance renewal, according to Guy Carpenter.
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