One thing not mentioned, exactly, is how well each insurer and reinsurer with exposure to Harvey will fare after all the claims are tallied. How well covered each insurer is to this monstrous cat is a sign of good / poor management that will ultimately be reflected in their stock prices. How well each reinsurer participated in the exposure and retroceded some layers / percentage of layers is another sign of good / poor management.
Finally, no mention is made of the potential for insolvency of insurers and reinsurers, which is a direct result of the subject I discussed above. The size of the domestic reinsurance market players makes it less likely there will be insolvencies among them relative to the potential for ‘ineffectually reinsured’ regional carriers to be wiped out.
Sherriff, no doubt Harvey will get peoples attention. Insured losses will be there and Loss Raio’s will skyrocket and here comes the rate increases on about everything.
Let’s hope State Farm doesn’t get caught with claims problems like they had with Katrina. Those drug on for several years and lawsuits galore. Maybe they learned their lesson, then again, maybe not.
We all understood what happened with State Farm. They got caught with their pants down and didn’t have proper re-insurance on their risks, then tried to get out of thousands of claims alleging rising waters on wind claims.
A period of low rates? What? We’ve seen nothing but auto increases since 2015 and property certainly isn’t “low”. The insurance industry seems to be a bit deluded about “low” rates.
One thing not mentioned, exactly, is how well each insurer and reinsurer with exposure to Harvey will fare after all the claims are tallied. How well covered each insurer is to this monstrous cat is a sign of good / poor management that will ultimately be reflected in their stock prices. How well each reinsurer participated in the exposure and retroceded some layers / percentage of layers is another sign of good / poor management.
Finally, no mention is made of the potential for insolvency of insurers and reinsurers, which is a direct result of the subject I discussed above. The size of the domestic reinsurance market players makes it less likely there will be insolvencies among them relative to the potential for ‘ineffectually reinsured’ regional carriers to be wiped out.
Sherriff, no doubt Harvey will get peoples attention. Insured losses will be there and Loss Raio’s will skyrocket and here comes the rate increases on about everything.
Let’s hope State Farm doesn’t get caught with claims problems like they had with Katrina. Those drug on for several years and lawsuits galore. Maybe they learned their lesson, then again, maybe not.
Do you even understand what State Farm was doing in Katrina? Apparently not because there isn’t close to the same type of damage with Harvey.
We all understood what happened with State Farm. They got caught with their pants down and didn’t have proper re-insurance on their risks, then tried to get out of thousands of claims alleging rising waters on wind claims.
A period of low rates? What? We’ve seen nothing but auto increases since 2015 and property certainly isn’t “low”. The insurance industry seems to be a bit deluded about “low” rates.