Hawaii Volcano Insurance: Bad News, Slow moving lava flow losses means no available reinsurance

Specialty insurer and reinsurer, RLI Corporation, saw its second-quarter net underwriting income decline by $5.5 million as a result of volcano activity in Hawaii, while the slow-moving nature of the exposure means there isn’t any available catastrophe reinsurance, according to President and Chief Operating Officer (COO), Craig Kliethermes.