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PeakOil is You

PeakOil is You

Insurance Costs

Discussions about the economic and financial ramifications of PEAK OIL

Re: Insurance Costs

Unread postby Outcast_Searcher » Mon 21 May 2018, 13:31:52

Newfie wrote:The point of the thread is to look at insurance companies and follow their decisions. If CC is a real threat then the insurance companies will likely be the one to first identify and quantify the risk.

What happened with Buffet is not very relevant.

Agreed. For one thing, Berkshire is insuring a hell of a lot more than flood and hurricane damage. Looking at the overall results without drilling down to the topic at hand is pretty meaningless.

Frankly, looking at Florida, for example, I'm increasingly surprised we don't already see howls of outrage from customers (wanting taxpayers to bail them out) due to increasing costs of insurance for coastal properties. As SLR continues and accelerates, it's only a matter of when that happens.

A quick search reminded me Bloomberg predicted that scenario about a year ago.

https://www.bloomberg.com/news/features ... homeowners
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Insurance Costs

Unread postby Newfie » Fri 01 Jun 2018, 16:55:48

From Reuters

Florida catastrophe reinsurance rates rise only slightly: JLT Re
LONDON (Reuters) - Reinsurance rates to cover property catastrophe damage in hurricane hotspot Florida rose only slightly at June 1 renewals, despite record losses in 2017, broker JLT Re said on Friday.

JLT Re said rate increases were seen in the low single digits, an increase it called “negligible” and some way below market expectations.

The broker said demand from investors to put money to work in the reinsurance market remained strong, with dedicated reinsurance capital at record levels.

“Pricing for Florida property-catastrophe business remains 40 percent down on 2012 levels and only 13 percent above the previous cyclical low of 1999/2000,” it said in a statement.

Reporting by Simon Jessop; editing by Lawrence White
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