Business · Markets · 1 day ago
Hurricane Isaias Could Cause Billions in Insured Losses
Insurance analyst Matthew Palazola says Hurricane Isaias could cause insured losses in the single-digit billions of dollars.
He says stronger building codes in Florida may limit damage, even as rising property values could increase potential losses.
Insured losses are the costs insurers may have to cover for damage.
Two relatively mild hurricane seasons have helped insurers rebuild their capital, Palazola says.
Recent insurance reforms in Florida have also improved market conditions.
But those reforms have not yet faced a major test, and the sources do not say what happens next.
Hurricane Isaias could cause insured losses in the single-digit billions of dollars, Bloomberg Intelligence analyst Matthew Palazola said.
Stronger Florida building codes could limit damage, despite rising property values.
Two relatively mild hurricane seasons have helped insurers rebuild capital.
Recent Florida insurance reforms have improved market conditions but have not faced a major test.
- Who
- Insurers could face losses; Matthew Palazola gave the estimate.
- What
- Hurricane Isaias could generate insured losses in the single-digit billions of dollars.
- When
- Not stated
- Where
- Not stated; the article discusses Florida’s building codes and insurance market.
- Why
- Stronger building codes could limit damage, while rising property values could affect losses.
This story does not have two clearly opposing sides.
could generate insured losses in the single-digit billions of dollars
This story does not have a timeline yet.
- Potential insured losses
- Single-digit billions of dollars
- Analyst
- Matthew Palazola
- Building codes
- Stronger Florida codes could limit damage
- Insurer capital
- Two relatively mild hurricane seasons helped insurers rebuild capital
Sources
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