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Monday September 20, 10:04
Reinsurance rate to climb after Ivan
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e-realtor.org
FashionGates.com
(by Sh. Nakata)
U.S. insurers and reinsurers now assess losses from the Hurricane Ivan. Its damage can lead to reinsurance rate boost, specialists say.
Hurricane Ivan, the third biggest to hit the U.S. south-eastern coast within a month, hit four U.S. states and took at least 30 lives. The damage from the hurricane now is estimated between $2 and $10 billion in insured losses. Actually, the forecasts are very approximate so far with different companies predict different figures. It is hard to make final calculations within the approach of another tropical storm Jeanne.
The losses from the hurricane can also cause lift of property reinsurance rates and stop prices fall, modelers say. Though, the increase will not bring some aftermath, they add.
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