We are seeing very large increases in the rates for both wind and flood whenever the building value forces us beyond the pool limits. 100% increases are fairly common. One excess wind quote was withdrawn overnight and replaced with a quote that was four (4) times higher than the quote the day before.
We are also seeing rates increase 100% for property both large schedules and smaller, with Wind deductibles increasing to 2% of TIV. This extends far north of the city, with some carriers quoting areas in Montgomery County with same increases (about 100 miles from coast). It takes about 4 or 5 carriers (or more) to get to $100 M loss limit due to decreased capacity.
We are seeing very large increases in the rates for both wind and flood whenever the building value forces us beyond the pool limits. 100% increases are fairly common. One excess wind quote was withdrawn overnight and replaced with a quote that was four (4) times higher than the quote the day before.
We are also seeing rates increase 100% for property both large schedules and smaller, with Wind deductibles increasing to 2% of TIV. This extends far north of the city, with some carriers quoting areas in Montgomery County with same increases (about 100 miles from coast). It takes about 4 or 5 carriers (or more) to get to $100 M loss limit due to decreased capacity.