Assurant decides 2009 Property Catastrophe Reinsurance program, effective for both January 1, 2009 and June 1, 2009
Assurant, a provider of specialised insurance and related products and services, has finalised its 2009 property catastrophe reinsurance (CAT) program, effective for both January 1, 2009 and June 1, 2009.
While structuring the CAT program, Assurant follows a risk management process that incorporates the following: multiple catastrophe models to evaluate the estimated loss potential from various perils, analysis of reinsurance costs relative to the coverage provided and evaluation of the credit quality, financial strength and claims paying ability of the reinsurers.
Gene Mergelmeyer, President and CEO of Assurant Specialty Property said: Catastrophe reinsurance is an important component of our overall risk management program. It helps protect the capital base of our company and provides stability that enables us to effectively serve our clients and their customers.
Headquartered in North America, Assurant’s range of businesses involves Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property.