San Francisco, Calif.-based Delos Insurance Solutions announced an agreement with reinsurance companies that the firm said 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.
Guy Carpenter placed the reinsurance for the new capacity.
Delos, which uses satellite imagery and modeling technology to quantify a home’s actual wildfire exposure, is a managing general agent offering policies on behalf of Canopius US Insurance. (Insurance Journal)