PMA Capital Corp. spokeman Albert Ciavardelli tells GlobeSt.com the assessment is based on a preliminary examination of the roughly 150 insurance companies in its portfolio that could be considered potential claimants. However, the report does not cover specific damages or address which buildings might be represented in a potential claim.
"Being a reinsurance company we are providing insurance to insurance companies," he says. "There's no way for me to tell you how much of the $30 million relates to a specific property. We may never know. That level of detail typically doesn't make it from insurance companies to reinsurance companies."
Ciavardelli says many of PMA's clients are small insurance firms reinsured for "a couple of million dollars. A very small piece is related to the towers."
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