The property coverage ecosystem in the state does appear to be easing compared to the last dramatic years. While the Florida home insurance market looks like it may be leveling out, it remains clear that considerable funding is still required to harden homes in the state against the extreme winds that come with the increasingly common and severe hurricanes blowing through every year. This could help to prevent substantial losses for both policyholders and insurers, said risk experts. “Mitigation is a huge issue. If you think about how do you…
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Reinsurance industry’s future is stormy, may be at risk in the event of a major natural disaster
The global reinsurance industry is under enormous pressure to quickly recover from the calamitous events that happened all over the world earlier in the year. Natural catastrophes have taken a massive toll on insurance companies worldwide, and as these companies hemorrhage money, so too do reinsurers as they pour funds into these companies to keep them afloat. While the severity of disasters occurring earlier in the year has not been overtly cataclysmic, the frequency in which they occurred has put strain on a somewhat unstable global economy. Now, insurance and…
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