If anyone in the Midwest or South is experiencing issues with CIBA renewals, please share. Word on the street has been that this program was going to implode when the March 30, 2012 program renewal came. The lower layers supposedly were getting hit with some major claims. A CIBA representative told me they were exiting Texas this year, and multiple sources have told me some Midwestern states were also potentially on the chopping block, though nothing is substantiated.
The program is rather innovative, but there has always been inherent dangers. We have reviewed some CIBA policies and proposals in this region, and the rates were incredible for the risk. The coverage - other than the shared EQ and flood - appeared to be decent. Even with 35-40% increases, they may keep some of that hab business, as the market is headed that direction.