Reinsurance rates are not decreasing overall. Reinsurance rates are decreasing for the select (and increasing companies) who are taking action to minimize CAT exposures in areas like Florida, the Carolinas, Long Island, and Nantucket.
This is the result of a Florida CFO who is under-educated on the macro and micro of the insurance industry.
Our company has not seen a decrease in Florida reinsurance rates. Most years for the last decade they have gone up, not down. We are told by reinsurers that decreases are only for non-cat areas. They still consider Florida high risk.
Rates should not be going down. In a stable environment, they might bounce along.
Insurance companies replace roofs, shutters, repair carpets, replace drywall, paint and otherwise repair or replace real property damaged by covered losses. Are anyof the items they work with – parts, labor or the cost of adjusting claims decreasing??? It is only the last two years that companies have recovered frm the artificially high discounts given to homes where the owners lied about what discounts they qualified for.
Reinsurance rates are not decreasing overall. Reinsurance rates are decreasing for the select (and increasing companies) who are taking action to minimize CAT exposures in areas like Florida, the Carolinas, Long Island, and Nantucket.
This is the result of a Florida CFO who is under-educated on the macro and micro of the insurance industry.
Under-educated or over-political?
Our company has not seen a decrease in Florida reinsurance rates. Most years for the last decade they have gone up, not down. We are told by reinsurers that decreases are only for non-cat areas. They still consider Florida high risk.
Rates should not be going down. In a stable environment, they might bounce along.
Insurance companies replace roofs, shutters, repair carpets, replace drywall, paint and otherwise repair or replace real property damaged by covered losses. Are anyof the items they work with – parts, labor or the cost of adjusting claims decreasing??? It is only the last two years that companies have recovered frm the artificially high discounts given to homes where the owners lied about what discounts they qualified for.
Politicians suck.
Exhibit A, why state insurance regulators should not be elected. They should be appointed by the Governor and politics should not come into play.
This guy is looking forward to another election down the road.
There are those at the opposite end of the spectrum that think regulators should not be appointed.
I’m with you. I don’t want cronyism to affect regulation. These should people elected by the people.