Survey finds insurers aren’t planning for climate change p3

Thu Sep 22nd, 2011 on     Homeowners Insurance,    

For all the trouble insurance causes Floridians, raising rates or leaving the state, there is an upside: Floridians must be some of the savviest insurance consumers in the country. In northern states, natives say it’s okay to complain about the weather, just understand that it’ll change in five minutes. Here, we can say the same thing about the homeowner insurance market.

Survey finds insurers aren’t planning for climate change p2

Mon Sep 19th, 2011 on     Homeowners Insurance,    

Insurance is a little mysterious to most people. The risk assessment, the loss projections, rate-setting and reinsurance woes — there are days when it looks as if the industry is working off a Ouija board. “Will there be a hurricane in Florida?” The planchette, under the deft fingers of a group of insurance executives, moves to “yes.” “Will there be much property damage?” The planchette moves to a Y, then a U and, finally, a P. “Yup.”

Hurricane Irene adds to long list of 2011 weather disasters p. 3

Wed Aug 31st, 2011 on     Homeowners Insurance,    

We are continuing our discussion of weather disasters in the U.S. As we have said in past posts, Florida’s homeowners insurance market is sensitive not only to disasters in this state but also to national and international disasters. Though the state escaped Hurricane Irene last week, it will take some time to know if the estimated $2.6 billion in damage will affect local premiums.

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