S&P Report Analyzes U.S. Insurers Hurricane Readiness

August 8, 2007

  • August 8, 2007 at 1:21 am
    Peter Polstein says:
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    All of this presupposes that the industry will not see a catasrophic storm such as the 1938 Long Island Express, which devastated New Jersey shore, Long Island, Connecticut, Rhode Island and Massachusetts. A storm of this nature would create a loss potential well in excess of $ 200 billion fiven todays exposure base and total TIV. With the ever decreasing surplus of the marketplace due to this idiotic soft market, and the questionable ceding of catastrophic risk to the equity marketplace, with their exotic “underwriting” who may well have ceded a substantial amount of their risk, the market could well be insolvent, under the perfect storm.

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