Southern Fidelity FOTs reveal 1.6 Florida challenge as renewals remain incomplete

Firm order terms (FOTs) for Southern Fidelity’s $437mn cat tower – which include an 85 percent rate on line (RoL) for the first layer and a 79 percent RoL for a second layer that also has a 95 percent RoL for reinstatement premium protection – highlight the lengths the carrier and others are having to go to in order to secure capacity as the 1 June Florida deadline looms, The Insurer can reveal.