Hurricane Irma insurance impact News

Firms Hit by Harvey, Irma Hope Business Interruption Coverage Pays Off

Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers. Exclusions in the fine print of policies, along with waiting …

A.M. Best: Hurricane Irma to Test Florida Market Newbies

Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and …

Harvey and Irma Jeopardize 2017 Earnings, Says Munich Re

Munich Re, the world’s largest reinsurer, said storms led by Hurricanes Harvey and Irma will probably wipe out third-quarter profit and threaten the company’s ability to meet its full-year earnings target. “These two events are expected to result in high …

Fitch Expects Most Insurers, Reinsurers to Handle Losses from Both Harvey, Irma

Fitch Ratings reported that based on its initial assessments, most U.S. insurance companies and global reinsurers that it rates are not expected to be downgraded as a result of the combined effects of Hurricanes Irma and Harvey. However, Fitch said …

Florida on Alert for AOB Abuse as Irma Recovery Begins

As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …

Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold

Before Hurricane Irma made landfall in south Florida on Sunday morning, analysts were assessing the potential damage to property/casualty insurer and reinsurance balance sheets and earnings. On Friday, Fitch Ratings noted that if Irma were to produce insured losses greater …