Advisen QuickNote: Earthquake: The Other Insurance Crisis
Publication Date: October 4, 2006
Source: Advisen -- Insurance Market
"Key Points: Skyrocketing property insurance premiums in Florida and other hurricane-exposed areas have been widely reported in the media. However, risk managers are keenly aware that it is not only coastal exposures that are being hit with higher premiums and reduced capacity. Premiums for California earthquake coverage also are rising sharply, despite the fact that there has not been a major California earthquake in over a decade. Factors driving the premium hikes are higher loss projections from recently revised catastrophe models, and higher minimum capital requirements now being imposed by rating agencies..."
Source: Advisen -- Insurance Market
"Key Points: Skyrocketing property insurance premiums in Florida and other hurricane-exposed areas have been widely reported in the media. However, risk managers are keenly aware that it is not only coastal exposures that are being hit with higher premiums and reduced capacity. Premiums for California earthquake coverage also are rising sharply, despite the fact that there has not been a major California earthquake in over a decade. Factors driving the premium hikes are higher loss projections from recently revised catastrophe models, and higher minimum capital requirements now being imposed by rating agencies..."
posted by AVRECO at 12:15 PM
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