Business · Markets · 2 days 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.

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could generate insured losses in the single-digit billions of dollars

Matthew PalazolaBloomberg Intelligence senior insurance equity analystvia Bloomberg

Bloomberg · 2 days ago